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

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

AppFolio Price Performance

Shares of APPF stock traded up $26.10 during trading hours on Friday, reaching $242.75. 714,925 shares of the company traded hands, compared to its average volume of 229,153. AppFolio has a 12-month low of $123.36 and a 12-month high of $256.73. The company has a market cap of $8.71 billion, a P/E ratio of 117.27 and a beta of 0.80. The firm has a 50-day moving average price of $229.41 and a 200 day moving average price of $204.69.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.32 by $0.29. AppFolio had a return on equity of 14.51% and a net margin of 11.38%. The business had revenue of $171.83 million for the quarter, compared to the consensus estimate of $162.80 million. Sell-side analysts predict that AppFolio will post 2.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APPF. Keefe, Bruyette & Woods upped their price target on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday. Stephens reaffirmed an “overweight” rating and set a $241.00 price objective on shares of AppFolio in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. KeyCorp raised their price target on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, BTIG Research began coverage on AppFolio in a report on Friday, January 19th. They issued a “buy” rating and a $215.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently 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 AppFolio stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $241.75, for a total value of $239,090.75. Following the transaction, the director now owns 1,909 shares in the company, valued at $461,500.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related 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 value of $239,090.75. Following the sale, the director now owns 1,909 shares of the company’s stock, valued at $461,500.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy K. Bliss sold 10,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the transaction, the director now directly owns 51,070 shares in the company, valued at $11,605,146.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,489 shares of company stock valued at $3,531,011. 9.15% of the stock is currently owned by corporate insiders.

Institutional Trading of AppFolio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Securian Asset Management Inc. purchased a new position in shares of AppFolio in the 1st quarter worth $415,000. Yousif Capital Management LLC bought a new position in AppFolio during the 1st quarter valued at about $2,315,000. Verdence Capital Advisors LLC raised its position in AppFolio by 10.7% in the 1st quarter. Verdence Capital Advisors LLC now owns 2,341 shares of the software maker’s stock worth $578,000 after purchasing an additional 227 shares during the period. New York State Teachers Retirement System purchased a new position in shares of AppFolio during the first quarter valued at approximately $784,000. Finally, WCM Investment Management LLC grew its stake in shares of AppFolio by 15.4% during the first quarter. WCM Investment Management LLC now owns 86,247 shares of the software maker’s stock valued at $21,281,000 after buying an additional 11,515 shares during the last quarter. 62.34% of the stock is currently owned by institutional investors.

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.