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

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

Analysts Set New Price Targets

A number of analysts have issued reports on APPF shares. Stephens reiterated an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a report on Friday, April 26th. Piper Sandler initiated coverage on AppFolio in a report on Monday, June 10th. They issued an “overweight” rating and a $295.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Finally, KeyCorp lifted their price objective on AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and an average price target of $248.71.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of APPF. Verdence Capital Advisors LLC raised its holdings in shares of AppFolio by 2.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock valued at $366,000 after purchasing an additional 55 shares in the last quarter. GAMMA Investing LLC increased its holdings in AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after buying an additional 112 shares during the period. Harbor Capital Advisors Inc. raised its stake in AppFolio by 3.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,691 shares of the software maker’s stock worth $639,000 after buying an additional 116 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock worth $44,000 after buying an additional 134 shares during the period. Finally, Zeno Equity Partners LLP bought a new stake in AppFolio during the 4th quarter valued at $30,000. Institutional investors own 62.34% of the company’s stock.

AppFolio Trading Up 1.1 %

APPF opened at $249.97 on Thursday. The stock has a 50-day moving average of $237.06 and a 200 day moving average of $221.17. AppFolio has a 12 month low of $164.29 and a 12 month high of $256.73. The firm has a market cap of $9.05 billion, a P/E ratio of 120.76 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last announced its earnings results on Thursday, April 25th. The software maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. AppFolio had a return on equity of 13.51% and a net margin of 11.38%. The firm had revenue of $187.43 million during the quarter, compared to analysts’ expectations of $173.66 million. On average, research analysts forecast that AppFolio will post 2.85 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.