AppFolio, Inc. (NASDAQ:APPF) Short Interest Up 6.9% in June

AppFolio, Inc. (NASDAQ:APPF) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,090,000 shares, an increase of 6.9% from the May 31st total of 1,020,000 shares. Based on an average daily volume of 310,700 shares, the short-interest ratio is presently 3.5 days.

Insider Buying and Selling

In other AppFolio news, Director Alexander Wolf sold 10,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the completion of the transaction, the director now owns 182,584 shares in the company, valued at approximately $45,693,471.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AppFolio news, major shareholder Maurice J. Duca sold 2,100 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $231.20, for a total transaction of $485,520.00. Following the completion of the transaction, the insider now owns 55,000 shares in the company, valued at approximately $12,716,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexander Wolf sold 10,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $250.26, for a total transaction of $2,502,600.00. Following the completion of the transaction, the director now owns 182,584 shares of the company’s stock, valued at approximately $45,693,471.84. The disclosure for this sale can be found here. Insiders sold a total of 109,891 shares of company stock worth $25,950,607 in the last 90 days. Company insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Zeno Equity Partners LLP purchased a new stake in shares of AppFolio during the fourth quarter valued at approximately $30,000. GAMMA Investing LLC raised its stake in shares of AppFolio by 589.5% during the second quarter. GAMMA Investing LLC now owns 131 shares of the software maker’s stock valued at $32,000 after purchasing an additional 112 shares during the period. Advisors Asset Management Inc. raised its stake in shares of AppFolio by 291.3% during the first quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker’s stock valued at $44,000 after purchasing an additional 134 shares during the period. USA Financial Formulas purchased a new stake in shares of AppFolio during the fourth quarter valued at approximately $59,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of AppFolio during the fourth quarter valued at approximately $64,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of AppFolio from $215.00 to $238.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Stephens reiterated an “overweight” rating and issued a $241.00 price target on shares of AppFolio in a report on Friday, April 26th. KeyCorp increased their price target on shares of AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Piper Sandler started coverage on shares of AppFolio in a report on Monday, June 10th. They issued an “overweight” rating and a $295.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.71.

AppFolio Stock Performance

NASDAQ APPF traded up $3.80 during trading hours on Tuesday, reaching $247.16. The company’s stock had a trading volume of 329,615 shares, compared to its average volume of 303,626. AppFolio has a fifty-two week low of $164.29 and a fifty-two week high of $256.73. The stock has a market cap of $8.95 billion, a PE ratio of 119.40 and a beta of 0.80. The company’s 50-day moving average is $236.38 and its two-hundred day moving average is $220.96.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, April 25th. The software maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. AppFolio had a net margin of 11.38% and a return on equity of 13.51%. The company had revenue of $187.43 million for the quarter, compared to analysts’ expectations of $173.66 million. Equities analysts expect that AppFolio will post 2.85 earnings per share for the current fiscal year.

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.