Short Interest in AppFolio, Inc. (NASDAQ:APPF) Rises By 80.4%

AppFolio, Inc. (NASDAQ:APPF) was the recipient of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 707,900 shares, a growth of 80.4% from the January 15th total of 392,300 shares. Based on an average trading volume of 229,200 shares, the days-to-cover ratio is presently 3.1 days.

AppFolio Stock Up 1.1 %

Shares of APPF opened at $217.32 on Friday. The business’s 50-day moving average price is $246.82 and its 200-day moving average price is $233.49. AppFolio has a twelve month low of $189.01 and a twelve month high of $274.56. The stock has a market cap of $7.90 billion, a PE ratio of 39.16 and a beta of 0.88.

AppFolio (NASDAQ:APPF) last announced its quarterly 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%. Analysts expect that AppFolio will post 3.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Maurice J. Duca sold 1,059 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $229.10, for a total value of $242,616.90. Following the transaction, the insider now directly owns 9,388 shares of the company’s stock, valued at approximately $2,150,790.80. The trade was a 10.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew S. Mazza sold 838 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $255.30, for a total transaction of $213,941.40. Following the completion of the transaction, the insider now directly owns 22,701 shares in the company, valued at $5,795,565.30. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,090 shares of company stock valued at $3,739,804 in the last three months. 5.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppFolio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of AppFolio by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 2,495,527 shares of the software maker’s stock valued at $615,696,000 after buying an additional 91,174 shares during the period. AQR Capital Management LLC increased its position in shares of AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker’s stock worth $161,756,000 after purchasing an additional 197,700 shares during the last quarter. State Street Corp increased its position in shares of AppFolio by 8.2% in the third quarter. State Street Corp now owns 653,136 shares of the software maker’s stock worth $153,748,000 after purchasing an additional 49,238 shares during the last quarter. FMR LLC increased its position in shares of AppFolio by 881.2% in the fourth quarter. FMR LLC now owns 597,485 shares of the software maker’s stock worth $147,411,000 after purchasing an additional 536,591 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in shares of AppFolio by 4.7% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 572,917 shares of the software maker’s stock worth $141,350,000 after purchasing an additional 25,566 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of research analyst reports. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. William Blair reissued an “outperform” rating on shares of AppFolio in a report on Friday, January 31st. Stephens restated an “overweight” rating and issued a $295.00 price objective on shares of AppFolio in a research note on Friday, January 31st. Finally, Piper Sandler restated a “neutral” rating and issued a $265.00 price objective on shares of AppFolio in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $276.29.

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.