Short Interest in AppFolio, Inc. (NASDAQ:APPF) Rises By 24.3%

AppFolio, Inc. (NASDAQ:APPF) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 1,240,000 shares, a growth of 24.3% from the March 15th total of 997,900 shares. Based on an average daily trading volume, of 321,500 shares, the short-interest ratio is presently 3.9 days. Currently, 3.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. KeyCorp downgraded AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 target price on the stock. in a research note on Friday, January 10th. Piper Sandler reaffirmed a “neutral” rating and set a $265.00 price target on shares of AppFolio in a research report on Friday, January 31st. William Blair restated an “outperform” rating on shares of AppFolio in a research note on Friday, January 31st. Finally, DA Davidson lowered their target price on AppFolio from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, AppFolio currently has an average rating of “Hold” and a consensus target price of $272.71.

AppFolio Price Performance

Shares of NASDAQ APPF opened at $209.90 on Tuesday. The business’s fifty day moving average price is $217.85 and its 200-day moving average price is $231.14. AppFolio has a one year low of $189.01 and a one year high of $274.56. The stock has a market capitalization of $7.64 billion, a PE ratio of 37.82 and a beta of 0.86.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.34). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, equities analysts expect that AppFolio will post 3.96 EPS for the current fiscal year.

Insider Buying and Selling at AppFolio

In related news, insider Matthew S. Mazza sold 838 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $255.30, for a total value of $213,941.40. Following the transaction, the insider now owns 22,701 shares of the company’s stock, valued at approximately $5,795,565.30. This trade represents a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander Wolf acquired 9,678 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were bought at an average cost of $214.81 per share, with a total value of $2,078,931.18. Following the completion of the acquisition, the director now directly owns 3,226 shares in the company, valued at approximately $692,977.06. This represents a -150.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Colonial Trust Co SC bought a new stake in shares of AppFolio during the 4th quarter valued at $28,000. Fifth Third Bancorp lifted its holdings in shares of AppFolio by 53.0% in the first quarter. Fifth Third Bancorp now owns 179 shares of the software maker’s stock worth $39,000 after buying an additional 62 shares in the last quarter. UMB Bank n.a. boosted its position in shares of AppFolio by 193.0% in the fourth quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after acquiring an additional 110 shares during the period. Versant Capital Management Inc grew its stake in AppFolio by 4,975.0% during the first quarter. Versant Capital Management Inc now owns 203 shares of the software maker’s stock valued at $45,000 after acquiring an additional 199 shares in the last quarter. Finally, Arcadia Investment Management Corp MI bought a new stake in AppFolio during the 4th quarter worth approximately $50,000. Institutional investors own 85.19% 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.