AppFolio, Inc. (NASDAQ:APPF) Sees Large Growth in Short Interest

AppFolio, Inc. (NASDAQ:APPF) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,090,000 shares, a growth of 6.9% from the May 31st total of 1,020,000 shares. Based on an average daily volume of 310,700 shares, the short-interest ratio is presently 3.5 days.

Insider Buying and Selling at AppFolio

In related news, Director Timothy K. Bliss sold 41,730 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $232.32, for a total value of $9,694,713.60. Following the completion of the sale, the director now directly owns 58,270 shares in the company, valued at $13,537,286.40. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Timothy K. Bliss sold 41,730 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $232.32, for a total value of $9,694,713.60. Following the completion of the transaction, the director now owns 58,270 shares of the company’s stock, valued at $13,537,286.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 3,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $243.15, for a total transaction of $729,450.00. Following the sale, the insider now owns 17,491 shares in the company, valued at $4,252,936.65. The disclosure for this sale can be found here. Insiders sold 118,091 shares of company stock valued at $27,953,693 in the last quarter. Company insiders own 9.15% of the company’s stock.

Institutional Trading of AppFolio

Several institutional investors have recently added to or reduced their stakes in APPF. Zeno Equity Partners LLP bought a new position in shares of AppFolio in the 4th quarter worth about $30,000. GAMMA Investing LLC increased its holdings in AppFolio by 589.5% in the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in AppFolio by 291.3% in the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after buying an additional 134 shares during the period. USA Financial Formulas bought a new position in shares of AppFolio during the 4th quarter worth approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of AppFolio during the 4th quarter worth approximately $64,000. 62.34% of the stock is currently owned by institutional investors.

AppFolio Price Performance

APPF opened at $249.97 on Thursday. AppFolio has a fifty-two week low of $164.29 and a fifty-two week high of $256.73. The company’s 50 day moving average price is $237.06 and its two-hundred day moving average price is $221.17. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 120.76 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, April 25th. The software maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The business had revenue of $187.43 million during the quarter, compared to the consensus estimate of $173.66 million. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. As a group, equities research analysts predict that AppFolio will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APPF. Piper Sandler assumed coverage on AppFolio in a research note on Monday, June 10th. They issued an “overweight” rating and a $295.00 price target on the stock. KeyCorp boosted their target price on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods increased their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Finally, Stephens reaffirmed an “overweight” rating and set a $241.00 price target on shares of AppFolio in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.71.

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.