AppFolio, Inc. (NASDAQ:APPF) Sees Significant Increase in Short Interest

AppFolio, Inc. (NASDAQ:APPF) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 756,100 shares, an increase of 17.3% from the March 15th total of 644,500 shares. Based on an average daily trading volume, of 323,400 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Stephens restated an “overweight” rating and set a $241.00 target price on shares of AppFolio in a report on Friday, January 26th. BTIG Research began coverage on shares of AppFolio in a report on Friday, January 19th. They set a “buy” rating and a $215.00 target price on the stock. KeyCorp boosted their target price on shares of AppFolio from $254.00 to $264.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Finally, StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.40.

AppFolio Trading Down 1.2 %

Shares of APPF stock opened at $221.43 on Friday. AppFolio has a 12 month low of $123.36 and a 12 month high of $253.42. The stock has a market cap of $7.94 billion, a PE ratio of 7,383.29 and a beta of 0.80. The company’s fifty day moving average price is $232.58 and its 200-day moving average price is $202.93.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.29. The company had revenue of $171.83 million for the quarter, compared to analysts’ expectations of $162.80 million. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. On average, sell-side analysts forecast that AppFolio will post 2.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the transaction, the director now directly owns 5,449 shares of the company’s stock, valued at $1,234,525.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AppFolio news, Director Olivia Nottebohm sold 989 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $241.75, for a total transaction of $239,090.75. Following the transaction, the director now directly owns 1,909 shares of the company’s stock, valued at approximately $461,500.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the transaction, the director now directly owns 5,449 shares in the company, valued at $1,234,525.44. The disclosure for this sale can be found here. Insiders have sold a total of 15,489 shares of company stock valued at $3,531,011 over the last three months. 9.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppFolio

A number of hedge funds have recently bought and sold shares of APPF. Arcadia Investment Management Corp MI boosted its stake in AppFolio by 70.4% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after purchasing an additional 57 shares in the last quarter. Zeno Equity Partners LLP purchased a new position in AppFolio in the 4th quarter worth about $30,000. Lazard Asset Management LLC purchased a new position in AppFolio in the 3rd quarter worth about $30,000. First Horizon Advisors Inc. raised its position in AppFolio by 2,922.2% in the 1st quarter. First Horizon Advisors Inc. now owns 272 shares of the software maker’s stock worth $34,000 after buying an additional 263 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in AppFolio in the 1st quarter worth about $39,000. Institutional investors own 62.34% 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.