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

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

AppFolio Price Performance

Shares of APPF stock opened at $229.09 on Thursday. The stock has a market cap of $8.30 billion, a P/E ratio of 110.67 and a beta of 0.81. AppFolio has a one year low of $164.29 and a one year high of $274.56. The stock has a fifty day moving average price of $232.04 and a 200 day moving average price of $233.20.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on APPF shares. KeyCorp increased their price objective on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 price objective on shares of AppFolio in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. DA Davidson increased their price objective on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Piper Sandler increased their price objective on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

Insider Buying and Selling

In other AppFolio news, major shareholder Maurice J. Duca sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $239.22, for a total transaction of $766,700.10. Following the completion of the sale, the insider now owns 31,643 shares of the company’s stock, valued at $7,569,638.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AppFolio news, major shareholder Klaus Schauser sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $270.00, for a total transaction of $270,000.00. Following the completion of the sale, the insider now owns 403,000 shares of the company’s stock, valued at $108,810,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Maurice J. Duca sold 3,205 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $239.22, for a total value of $766,700.10. Following the sale, the insider now directly owns 31,643 shares of the company’s stock, valued at approximately $7,569,638.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,051 shares of company stock worth $13,273,855. Insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in AppFolio by 0.9% during the second quarter. Brighton Jones LLC now owns 5,805 shares of the software maker’s stock worth $1,420,000 after acquiring an additional 49 shares in the last quarter. ProShare Advisors LLC raised its stake in AppFolio by 2.9% during the second quarter. ProShare Advisors LLC now owns 3,630 shares of the software maker’s stock worth $888,000 after acquiring an additional 102 shares in the last quarter. CWM LLC raised its stake in AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after acquiring an additional 105 shares in the last quarter. GAMMA Investing LLC raised its stake in AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock worth $32,000 after acquiring an additional 112 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake 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 acquiring an additional 134 shares in the last quarter. 62.34% of the stock is currently owned by institutional investors and hedge funds.

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.