AppFolio, Inc. (NASDAQ:APPF) Sees Significant Decrease in Short Interest

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 532,800 shares, a decrease of 6.1% from the October 15th total of 567,700 shares. Based on an average daily volume of 218,100 shares, the short-interest ratio is presently 2.4 days.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on APPF shares. KeyCorp reduced their target price on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating for the company in a research report on Friday, October 25th. StockNews.com cut AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. Piper Sandler decreased their price objective on AppFolio from $300.00 to $265.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Piper Sandler Companies reaffirmed an "overweight" rating and set a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. Finally, DA Davidson lifted their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, AppFolio currently has a consensus rating of "Moderate Buy" and an average price target of $261.75.

AppFolio Trading Down 0.3 %

Shares of AppFolio stock traded down $0.69 on Monday, reaching $229.33. The stock had a trading volume of 201,506 shares, compared to its average volume of 277,092. The business's 50 day moving average is $221.86 and its two-hundred day moving average is $231.16. AppFolio has a 1 year low of $164.29 and a 1 year high of $274.56. The company has a market cap of $8.33 billion, a P/E ratio of 64.07 and a beta of 0.83.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to analysts' expectations of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The business's revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. On average, equities analysts anticipate that AppFolio will post 3.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Maurice J. Duca sold 200 shares of the company's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $232.18, for a total value of $46,436.00. Following the completion of the transaction, the insider now directly owns 18,922 shares of the company's stock, valued at $4,393,309.96. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Matthew S. Mazza sold 5,090 shares of AppFolio stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the sale, the insider now owns 28,266 shares in the company, valued at $6,677,559.84. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,796 shares of company stock valued at $4,177,209. Corporate insiders own 5.24% of the company's stock.

Hedge Funds Weigh In On AppFolio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of AppFolio by 8.6% during the third quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker's stock worth $97,252,000 after purchasing an additional 32,743 shares in the last quarter. Barclays PLC grew its stake in AppFolio by 20.5% in the 3rd quarter. Barclays PLC now owns 9,888 shares of the software maker's stock worth $2,327,000 after buying an additional 1,681 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of AppFolio by 5.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 8,824 shares of the software maker's stock worth $2,077,000 after buying an additional 442 shares during the last quarter. Main Management ETF Advisors LLC purchased a new stake in shares of AppFolio during the 3rd quarter valued at $731,000. Finally, Zacks Investment Management lifted its holdings in shares of AppFolio by 9.0% during the 3rd quarter. Zacks Investment Management now owns 8,905 shares of the software maker's stock worth $2,096,000 after acquiring an additional 732 shares during the last quarter. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

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.