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

AppFolio, Inc. (NASDAQ:APPF) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 660,100 shares, a decline of 7.3% from the August 15th total of 711,800 shares. Based on an average daily volume of 277,900 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler Companies reiterated an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. KeyCorp boosted their price target on shares of AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler lifted their price target on AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. DA Davidson boosted their price objective on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price objective on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $277.75.

Insider Activity at AppFolio

In related news, major shareholder Maurice J. Duca sold 200 shares of AppFolio stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $232.52, for a total transaction of $46,504.00. Following the sale, the insider now directly owns 27,568 shares in the company, valued at $6,410,111.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other AppFolio news, major shareholder Maurice J. Duca sold 11,627 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $240.08, for a total value of $2,791,410.16. Following the sale, the insider now directly owns 27,768 shares in the company, valued at $6,666,541.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Maurice J. Duca sold 200 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $232.52, for a total transaction of $46,504.00. Following the completion of the sale, the insider now owns 27,568 shares in the company, valued at $6,410,111.36. The disclosure for this sale can be found here. Insiders have sold a total of 55,051 shares of company stock worth $13,273,855 over the last ninety days. 9.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppFolio

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in AppFolio by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock worth $531,139,000 after buying an additional 73,965 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in AppFolio by 3.8% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 421,309 shares of the software maker’s stock worth $72,988,000 after buying an additional 15,283 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in AppFolio by 13.5% in the second quarter. Bank of New York Mellon Corp now owns 241,801 shares of the software maker’s stock worth $59,137,000 after buying an additional 28,673 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in AppFolio by 16.7% in the second quarter. Driehaus Capital Management LLC now owns 227,632 shares of the software maker’s stock worth $55,672,000 after buying an additional 32,633 shares during the last quarter. Finally, Norges Bank acquired a new position in AppFolio in the fourth quarter worth approximately $38,458,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Price Performance

Shares of APPF opened at $229.09 on Thursday. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 110.67 and a beta of 0.81. AppFolio has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The business’s 50-day moving average is $232.04 and its 200-day moving average is $233.20.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The company had revenue of $197.38 million for the quarter, compared to the consensus estimate of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.53) EPS. Equities research analysts expect that AppFolio will post 3.04 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.