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

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

AppFolio Stock Down 0.1 %

Shares of AppFolio stock traded down $0.36 during trading on Friday, hitting $251.92. 185,327 shares of the stock traded hands, compared to its average volume of 148,016. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 70.17 and a beta of 0.87. AppFolio has a 52 week low of $172.98 and a 52 week high of $274.56. The firm's fifty day moving average is $249.85 and its 200-day moving average is $235.68.

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

Insider Activity

In related news, CEO William Shane Trigg sold 3,500 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $229.85, for a total transaction of $804,475.00. Following the sale, the chief executive officer now owns 74,327 shares of the company's stock, valued at approximately $17,084,060.95. This represents a 4.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Matthew S. Mazza sold 5,090 shares of AppFolio stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total value of $1,202,461.60. Following the transaction, the insider now directly owns 28,266 shares of the company's stock, valued at $6,677,559.84. The trade was a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,768 shares of company stock valued at $5,744,891 over the last quarter. Company insiders own 5.24% of the company's stock.

Institutional Trading of AppFolio

Several institutional investors have recently added to or reduced their stakes in APPF. Lord Abbett & CO. LLC grew its holdings in shares of AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock worth $108,116,000 after purchasing an additional 207,204 shares during the last quarter. Squarepoint Ops LLC boosted its position in AppFolio by 188.2% during the 2nd quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker's stock valued at $45,254,000 after buying an additional 120,835 shares during the period. FMR LLC grew its holdings in AppFolio by 998.0% in the 3rd quarter. FMR LLC now owns 60,894 shares of the software maker's stock worth $14,334,000 after acquiring an additional 55,348 shares during the last quarter. Franklin Resources Inc. increased its position in shares of AppFolio by 31.2% in the third quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock valued at $51,800,000 after acquiring an additional 54,386 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of AppFolio during the second quarter valued at about $12,993,000. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APPF has been the subject of several analyst reports. Keefe, Bruyette & Woods downgraded shares of AppFolio from a "market perform" rating to an "underperform" rating and cut their price target for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Piper Sandler cut AppFolio from an "overweight" rating to a "neutral" rating and set a $265.00 target price for the company. in a research report on Monday, January 6th. Finally, KeyCorp cut AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price target on the stock. in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $261.88.

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.