AppFolio, Inc. (NASDAQ:APPF) Short Interest Down 7.3% in August

AppFolio, Inc. (NASDAQ:APPF) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 660,100 shares, a decrease of 7.3% from the August 15th total of 711,800 shares. Based on an average daily volume of 277,900 shares, the short-interest ratio is presently 2.4 days.

Analyst Ratings Changes

A number of brokerages recently issued reports on APPF. Piper Sandler lifted their price target on shares of AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. KeyCorp increased their target price on AppFolio from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. StockNews.com downgraded AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, DA Davidson boosted their target price on AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

Insiders Place Their Bets

In related news, major shareholder Maurice J. Duca sold 2,274 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $233.01, for a total value of $529,864.74. Following the sale, the insider now owns 19,122 shares in the company, valued at approximately $4,455,617.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AppFolio news, major shareholder Klaus Schauser sold 1,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $270.00, for a total value of $270,000.00. Following the completion of the transaction, the insider now owns 403,000 shares in the company, valued at $108,810,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Maurice J. Duca sold 2,274 shares of AppFolio stock in a transaction on Friday, August 30th. The shares were sold at an average price of $233.01, for a total value of $529,864.74. Following the completion of the transaction, the insider now owns 19,122 shares of the company’s stock, valued at $4,455,617.22. The disclosure for this sale can be found here. Insiders have sold 59,254 shares of company stock worth $14,241,974 over the last ninety days. Corporate insiders own 9.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Gordian Capital Singapore Pte Ltd purchased a new position in AppFolio in the 2nd quarter valued at $265,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of AppFolio in the second quarter valued at about $1,646,000. Truist Financial Corp increased its stake in shares of AppFolio by 12.8% during the second quarter. Truist Financial Corp now owns 2,467 shares of the software maker’s stock worth $603,000 after acquiring an additional 280 shares during the period. Quarry LP raised its holdings in AppFolio by 147.9% during the second quarter. Quarry LP now owns 238 shares of the software maker’s stock worth $58,000 after purchasing an additional 142 shares in the last quarter. Finally, Capital Impact Advisors LLC acquired a new stake in AppFolio in the second quarter valued at about $738,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Price Performance

Shares of AppFolio stock opened at $229.19 on Wednesday. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 110.72 and a beta of 0.81. The firm’s fifty day simple moving average is $232.44 and its 200-day simple moving average is $233.29. AppFolio has a 12 month low of $164.29 and a 12 month high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.16. The firm had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The business’s revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.53) earnings per share. Analysts anticipate that AppFolio will post 3.04 earnings per share for the current 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.