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

AppFolio, Inc. (NASDAQ:APPF) saw a significant decrease in short interest in October. As of October 15th, there was short interest totalling 567,700 shares, a decrease of 16.2% from the September 30th total of 677,500 shares. Based on an average daily volume of 232,900 shares, the short-interest ratio is presently 2.4 days.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 1,296 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total transaction of $306,853.92. Following the transaction, the insider now directly owns 9,383 shares in the company, valued at $2,221,612.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AppFolio news, major shareholder Maurice J. Duca sold 1,296 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $236.77, for a total transaction of $306,853.92. Following the transaction, the insider now directly owns 9,383 shares in the company, valued at $2,221,612.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 1,842 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $235.71, for a total value of $434,177.82. Following the transaction, the insider now owns 12,874 shares in the company, valued at $3,034,530.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,652 shares of company stock worth $4,053,818 over the last ninety days. Corporate insiders own 9.15% of the company’s stock.

Hedge Funds Weigh In On AppFolio

Several hedge funds have recently made changes to their positions in APPF. Blue Trust Inc. grew its holdings in shares of AppFolio by 85.7% during the third quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock worth $29,000 after purchasing an additional 54 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 112 shares during the last quarter. CWM LLC grew its holdings in shares of AppFolio by 238.6% during the second quarter. CWM LLC now owns 149 shares of the software maker’s stock worth $36,000 after purchasing an additional 105 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of 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 purchasing an additional 134 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of AppFolio by 688.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock worth $52,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on APPF shares. StockNews.com cut AppFolio from a “buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods cut AppFolio from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. 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 note 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 note on Friday, July 26th. Finally, KeyCorp reduced their price objective on AppFolio from $300.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat, AppFolio has a consensus rating of “Moderate Buy” and an average price target of $261.75.

AppFolio Price Performance

AppFolio stock opened at $216.39 on Wednesday. AppFolio has a 1-year low of $164.29 and a 1-year high of $274.56. The stock has a market cap of $7.84 billion, a PE ratio of 104.54 and a beta of 0.81. The stock’s fifty day moving average is $223.24 and its two-hundred day moving average is $230.87.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The company had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $199.11 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. AppFolio’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. On average, research analysts expect that AppFolio will post 3.04 earnings per share for the current fiscal year.

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.