AppFolio, Inc. (NASDAQ:APPF) Short Interest Down 5.7% in January

AppFolio, Inc. (NASDAQ:APPF) saw a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 485,300 shares, a decline of 5.7% from the December 31st total of 514,900 shares. Based on an average daily volume of 220,600 shares, the short-interest ratio is presently 2.2 days.

Analysts Set New Price Targets

Several research firms recently issued reports on APPF. Stephens reissued an “overweight” rating and set a $295.00 target price on shares of AppFolio in a research note on Friday. KeyCorp cut shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research report on Friday, January 10th. William Blair reissued an “outperform” rating on shares of AppFolio in a research report on Friday. Piper Sandler reiterated a “neutral” rating and set a $265.00 price target on shares of AppFolio in a report on Friday. Finally, Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $276.29.

AppFolio Price Performance

Shares of APPF stock traded up $5.48 during midday trading on Monday, hitting $239.39. The company had a trading volume of 184,146 shares, compared to its average volume of 277,346. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 42.79 and a beta of 0.88. The company’s 50 day simple moving average is $253.82 and its 200 day simple moving average is $235.40. AppFolio has a 52-week low of $189.01 and a 52-week high of $274.56.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data 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 net margin of 25.69% and a return on equity of 26.21%. Analysts anticipate that AppFolio will post 4.21 EPS for the current year.

Insider Buying and Selling at AppFolio

In other AppFolio news, CEO William Shane Trigg sold 4,145 shares of AppFolio stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $263.32, for a total transaction of $1,091,461.40. Following the completion of the sale, the chief executive officer now directly owns 73,682 shares in the company, valued at $19,401,944.24. This trade represents a 5.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scanlan Agnes Bundy sold 500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $255.42, for a total transaction of $127,710.00. Following the completion of the transaction, the director now owns 5,416 shares in the company, valued at approximately $1,383,354.72. This represents a 8.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,606 shares of company stock worth $5,958,832 in the last ninety days. 5.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in APPF. Blue Trust Inc. boosted its holdings in AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of AppFolio by 193.0% in the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock valued at $41,000 after buying an additional 110 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after buying an additional 186 shares in the last quarter. Quarry LP grew its holdings in AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after acquiring an additional 142 shares during the period. Finally, True Wealth Design LLC purchased a new position in AppFolio in the third quarter worth $79,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

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.