Short Interest in AppFolio, Inc. (NASDAQ:APPF) Grows By 24.3%

AppFolio, Inc. (NASDAQ:APPF) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,240,000 shares, an increase of 24.3% from the March 15th total of 997,900 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 321,500 shares, the days-to-cover ratio is presently 3.9 days.

AppFolio Trading Up 0.4 %

APPF stock opened at $218.78 on Monday. The business has a 50 day simple moving average of $217.92 and a 200-day simple moving average of $231.26. AppFolio has a twelve month low of $189.01 and a twelve month high of $274.56. The company has a market capitalization of $7.96 billion, a P/E ratio of 39.42 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. Research analysts predict that AppFolio will post 3.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on APPF shares. DA Davidson reduced their price target on shares of AppFolio from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target for the company. in a research note on Friday, January 10th. Piper Sandler reiterated a “neutral” rating and issued a $265.00 target price on shares of AppFolio in a report on Friday, January 31st. William Blair restated an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. Finally, Stephens reiterated an “overweight” rating and issued a $295.00 price target on shares of AppFolio in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, AppFolio presently has a consensus rating of “Hold” and a consensus price target of $272.71.

Insider Activity

In other AppFolio news, insider Matthew S. Mazza sold 838 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the transaction, the insider now owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Shane Trigg sold 3,501 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $217.27, for a total transaction of $760,662.27. Following the completion of the transaction, the chief executive officer now owns 83,824 shares in the company, valued at $18,212,440.48. The trade was a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Precision Wealth Strategies LLC purchased a new stake in shares of AppFolio in the first quarter valued at approximately $510,000. Janney Montgomery Scott LLC acquired a new position in shares of AppFolio during the 1st quarter worth $305,000. Azzad Asset Management Inc. ADV increased its holdings in shares of AppFolio by 78.8% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 15,479 shares of the software maker’s stock valued at $3,404,000 after purchasing an additional 6,823 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock valued at $39,000 after purchasing an additional 62 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in AppFolio by 40.7% during the first quarter. Handelsbanken Fonder AB now owns 7,600 shares of the software maker’s stock worth $1,671,000 after buying an additional 2,200 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.

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.