Short Interest in AppFolio, Inc. (NASDAQ:APPF) Drops By 6.1%

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

Insider Activity

In related news, insider Matthew S. Mazza sold 926 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total value of $212,091.04. Following the transaction, the insider now directly owns 33,819 shares of the company’s stock, valued at approximately $7,745,903.76. The trade was a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Maurice J. Duca sold 2,968 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $234.87, for a total transaction of $697,094.16. Following the sale, the insider now directly owns 24,500 shares of the company’s stock, valued at approximately $5,754,315. This trade represents a 10.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,796 shares of company stock worth $4,177,209 over the last ninety days. Corporate insiders own 5.24% of the company’s stock.

Institutional Investors Weigh In On AppFolio

A number of institutional investors have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. acquired a new stake in AppFolio in the first quarter worth about $307,000. SG Americas Securities LLC boosted its position in AppFolio by 29.7% in the 1st quarter. SG Americas Securities LLC now owns 1,498 shares of the software maker’s stock worth $370,000 after purchasing an additional 343 shares in the last quarter. US Bancorp DE grew its position in AppFolio by 200.8% during the first quarter. US Bancorp DE now owns 1,444 shares of the software maker’s stock valued at $356,000 after buying an additional 964 shares during the period. Avantax Advisory Services Inc. purchased a new position in AppFolio during the first quarter worth approximately $306,000. Finally, ProShare Advisors LLC grew its position in shares of AppFolio by 8.3% in the first quarter. ProShare Advisors LLC now owns 3,528 shares of the software maker’s stock valued at $870,000 after purchasing an additional 271 shares during the period. Institutional investors own 62.34% of the company’s stock.

Analyst Upgrades and Downgrades

APPF has been the subject of several research analyst reports. KeyCorp cut their price target on AppFolio from $300.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Piper Sandler cut their target price on shares of AppFolio from $300.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, October 25th. DA Davidson increased their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $255.00 to $193.00 in a report on Tuesday, October 15th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $300.00 target price on shares of AppFolio in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, AppFolio currently has an average rating of “Moderate Buy” and a consensus target price of $261.75.

AppFolio Trading Down 0.3 %

NASDAQ:APPF opened at $229.33 on Tuesday. AppFolio has a twelve month low of $164.29 and a twelve month high of $274.56. The stock has a fifty day simple moving average of $222.00 and a 200-day simple moving average of $231.11. The company has a market cap of $8.33 billion, a price-to-earnings ratio of 63.88 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last issued its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. During the same period in the previous year, the company posted $0.26 EPS. AppFolio’s revenue was up 24.5% on a year-over-year basis. As a group, equities research analysts predict that AppFolio will post 3.23 EPS for the current fiscal year.

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.