AppFolio, Inc. (NASDAQ:APPF) Short Interest Up 24.3% in March

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) was the recipient of a significant growth in short interest in the month of 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. Approximately 3.6% of the company's stock are short sold.

Analysts Set New Price Targets

A number of brokerages recently issued reports on APPF. Stephens reaffirmed an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of AppFolio in a research report on Friday, January 31st. DA Davidson cut their price target on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. KeyCorp downgraded shares of AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective for the company. in a research note on Friday, January 10th. Finally, Piper Sandler reiterated a "neutral" rating and set a $265.00 target price on shares of AppFolio in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $272.71.

AppFolio Trading Up 4.0 %

Shares of NASDAQ APPF traded up $8.99 during midday trading on Thursday, reaching $234.65. 311,831 shares of the company were exchanged, compared to its average volume of 306,278. The stock has a fifty day simple moving average of $218.12 and a 200 day simple moving average of $231.02. The stock has a market cap of $8.54 billion, a P/E ratio of 42.28 and a beta of 0.86. AppFolio has a 1 year low of $189.01 and a 1 year high of $274.56.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, April 24th. The software maker reported $0.86 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.37). AppFolio had a return on equity of 26.21% and a net margin of 25.69%. As a group, analysts forecast that AppFolio will post 3.96 earnings per share for the current year.

Insider Buying and Selling

In other AppFolio news, Director Alexander Wolf purchased 9,678 shares of the business's stock in a transaction on Thursday, February 13th. The shares were bought at an average cost of $214.81 per share, for a total transaction of $2,078,931.18. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Shane Trigg sold 3,501 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total value of $760,662.27. Following the transaction, the chief executive officer now directly owns 83,824 shares of the company's stock, valued at approximately $18,212,440.48. This represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.24% of the company's stock.

Institutional Trading of AppFolio

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

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.