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

AppFolio, Inc. (NASDAQ:APPF) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,130,000 shares, a growth of 49.5% from the March 31st total of 756,100 shares. Based on an average trading volume of 325,100 shares, the days-to-cover ratio is presently 3.5 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research report on Friday. BTIG Research assumed coverage on shares of AppFolio in a research report on Friday, January 19th. They issued a “buy” rating and a $215.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. KeyCorp upped their target price on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Stephens reiterated an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a research report on Friday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, AppFolio has a consensus rating of “Moderate Buy” and an average price target of $241.00.

Insider Buying and Selling at AppFolio

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 sale, the director now 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Timothy K. Bliss sold 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the transaction, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 1,909 shares of the company’s stock, valued at $461,500.75. The disclosure for this sale can be found here. Insiders have sold 15,489 shares of company stock valued at $3,531,011 in the last 90 days. 9.15% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AppFolio

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its stake in AppFolio by 497.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 43,552 shares of the software maker’s stock worth $7,545,000 after buying an additional 36,265 shares in the last quarter. WCM Investment Management LLC bought a new position in AppFolio in the fourth quarter worth about $12,941,000. Long Walk Management LP raised its stake in AppFolio by 62.7% in the fourth quarter. Long Walk Management LP now owns 122,000 shares of the software maker’s stock worth $21,135,000 after buying an additional 47,000 shares in the last quarter. Syon Capital LLC bought a new position in AppFolio in the fourth quarter worth about $9,930,000. Finally, Assenagon Asset Management S.A. raised its stake in AppFolio by 103.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker’s stock worth $6,043,000 after buying an additional 17,706 shares in the last quarter. 62.34% of the stock is owned by institutional investors.

AppFolio Stock Up 12.0 %

NASDAQ APPF opened at $242.75 on Monday. The company has a 50-day simple moving average of $229.59 and a two-hundred day simple moving average of $205.22. AppFolio has a 12-month low of $123.36 and a 12-month high of $256.73. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 117.27 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.29. The business had revenue of $171.83 million during the quarter, compared to analyst estimates of $162.80 million. AppFolio had a net margin of 11.38% and a return on equity of 14.51%. Equities analysts expect that AppFolio will post 2.72 earnings per share for the current fiscal year.

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.