AppFolio, Inc. (NASDAQ:APPF) Short Interest Update

AppFolio, Inc. (NASDAQ:APPF) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 532,800 shares, a drop of 6.1% from the October 15th total of 567,700 shares. Based on an average daily volume of 218,100 shares, the days-to-cover ratio is presently 2.4 days.

AppFolio Trading Down 1.4 %

Shares of APPF stock opened at $230.02 on Monday. AppFolio has a 1 year low of $164.29 and a 1 year high of $274.56. The firm’s fifty day simple moving average is $221.86 and its 200 day simple moving average is $231.16. The firm has a market capitalization of $8.36 billion, a P/E ratio of 64.07 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS. Equities research analysts anticipate that AppFolio will post 3.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on APPF shares. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. DA Davidson raised their price target on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. Piper Sandler reduced their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Finally, KeyCorp reduced their target price on shares of AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and an average price target of $261.75.

Insider Activity at AppFolio

In other AppFolio news, major shareholder Maurice J. Duca sold 200 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $232.18, for a total transaction of $46,436.00. Following the transaction, the insider now owns 18,922 shares of the company’s stock, valued at approximately $4,393,309.96. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew S. Mazza sold 5,090 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the transaction, the insider now directly owns 28,266 shares in the company, valued at approximately $6,677,559.84. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,796 shares of company stock worth $4,177,209 in the last ninety days. 5.24% of the stock is owned by insiders.

Institutional Investors Weigh In On AppFolio

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. GAMMA Investing LLC lifted its position in AppFolio by 589.5% during the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after buying an additional 112 shares in the last quarter. CWM LLC lifted its position in AppFolio by 238.6% during the 2nd quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after buying an additional 105 shares in the last quarter. Advisors Asset Management Inc. lifted its position in AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in AppFolio by 688.9% during 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 during the period. Institutional investors own 62.34% of the company’s stock.

About AppFolio

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.