AppFolio, Inc. (NASDAQ:APPF) Short Interest Down 5.7% in January

AppFolio, Inc. (NASDAQ:APPF) saw a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 485,300 shares, a decrease of 5.7% from the December 31st total of 514,900 shares. Based on an average daily volume of 220,600 shares, the days-to-cover ratio is currently 2.2 days.

AppFolio Stock Down 7.8 %

NASDAQ:APPF traded down $19.67 on Friday, reaching $233.91. 996,048 shares of the company’s stock were exchanged, compared to its average volume of 213,548. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 65.16 and a beta of 0.87. AppFolio has a 52-week low of $189.01 and a 52-week high of $274.56. The business has a fifty day moving average of $253.82 and a 200-day moving average of $235.80.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a net margin of 17.26% and a return on equity of 30.64%. As a group, equities analysts anticipate that AppFolio will post 3.2 earnings per share for the current year.

Analysts Set New Price Targets

APPF has been the topic of a number of recent research reports. William Blair restated an “outperform” rating on shares of AppFolio in a research report on Friday. KeyCorp lowered AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a research report on Friday, January 10th. Piper Sandler reissued a “neutral” rating and set a $265.00 price objective on shares of AppFolio in a research note on Friday. Keefe, Bruyette & Woods downgraded AppFolio from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, Stephens reissued an “overweight” rating and set a $295.00 price target on shares of AppFolio in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $276.29.

Insiders Place Their Bets

In other AppFolio news, insider Matthew S. Mazza sold 5,090 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the transaction, the insider now owns 28,266 shares in the company, valued at approximately $6,677,559.84. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William Shane Trigg sold 3,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $229.85, for a total value of $804,475.00. Following the transaction, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,606 shares of company stock valued at $5,958,832. Company insiders own 5.24% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in shares of AppFolio by 85.7% in the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after acquiring an additional 54 shares during the period. UMB Bank n.a. grew its position in AppFolio by 193.0% during the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock worth $41,000 after buying an additional 110 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after purchasing an additional 186 shares in the last quarter. Quarry LP increased its position in shares of AppFolio by 147.9% in the second quarter. Quarry LP now owns 238 shares of the software maker’s stock valued at $58,000 after buying an additional 142 shares in the last quarter. Finally, True Wealth Design LLC purchased a new position in AppFolio during the 3rd quarter valued at about $79,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.