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

AppFolio, Inc. (NASDAQ:APPF) saw a large growth in short interest during 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 daily volume of 325,100 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analyst Weigh In

APPF has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Stephens restated an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a report on Friday. Keefe, Bruyette & Woods increased their price objective 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 initiated coverage on AppFolio in a report on Friday, January 19th. They issued a “buy” rating and a $215.00 price target for the company. Finally, KeyCorp raised their target price on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $241.00.

AppFolio Stock Up 12.0 %

Shares of APPF traded up $26.10 during midday trading on Friday, hitting $242.75. The company had a trading volume of 714,925 shares, compared to its average volume of 229,153. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 117.27 and a beta of 0.80. AppFolio has a 52 week low of $123.36 and a 52 week high of $256.73. The company’s 50 day moving average price is $229.41 and its 200 day moving average price is $204.69.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. The business had revenue of $171.83 million during the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a return on equity of 14.51% and a net margin of 11.38%. Equities analysts anticipate that AppFolio will post 2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Timothy K. Bliss sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the completion of the transaction, the director now owns 51,070 shares of the company’s stock, valued at $11,605,146.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the sale, the director now directly owns 5,449 shares in the company, valued at $1,234,525.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy K. Bliss sold 10,000 shares of AppFolio 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 owns 51,070 shares in the company, valued at approximately $11,605,146.80. 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 ninety days. 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. Securian Asset Management Inc. acquired a new stake in AppFolio during the first quarter worth about $415,000. Yousif Capital Management LLC bought a new stake in AppFolio in the 1st quarter valued at about $2,315,000. Verdence Capital Advisors LLC raised its holdings in shares of AppFolio by 10.7% during the first quarter. Verdence Capital Advisors LLC now owns 2,341 shares of the software maker’s stock valued at $578,000 after buying an additional 227 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in AppFolio in the 1st quarter valued at approximately $784,000. Finally, WCM Investment Management LLC increased its holdings 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 purchasing an additional 11,515 shares during the period. Institutional investors own 62.34% of the company’s stock.

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.