AppFolio, Inc. (NASDAQ:APPF) Short Interest Update

AppFolio, Inc. (NASDAQ:APPF) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 1,130,000 shares, a growth of 49.5% from the March 31st total of 756,100 shares. Based on an average daily trading volume, of 325,100 shares, the short-interest ratio is currently 3.5 days.

AppFolio Stock Performance

Shares of APPF opened at $242.75 on Monday. The company has a 50 day moving average price of $229.59 and a 200-day moving average price of $205.22. AppFolio has a fifty-two week low of $123.36 and a fifty-two week high of $256.73. The stock has a market capitalization of $8.71 billion, a PE ratio of 117.27 and a beta of 0.80.

AppFolio (NASDAQ:APPF) last posted its earnings results on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.29. AppFolio had a net margin of 11.38% and a return on equity of 14.51%. The company had revenue of $171.83 million during the quarter, compared to analysts’ expectations of $162.80 million. Equities research analysts forecast that AppFolio will post 2.72 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on APPF. BTIG Research began coverage on shares of AppFolio in a report on Friday, January 19th. They set a “buy” rating and a $215.00 price target on the stock. KeyCorp upped their target price on shares of AppFolio from $264.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday. Stephens restated an “overweight” rating and issued a $241.00 target price on shares of AppFolio in a research note on Friday. Keefe, Bruyette & Woods upped their target price on shares of AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of AppFolio from $228.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AppFolio currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

Insiders Place Their Bets

In other AppFolio news, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total value of $1,019,520.00. Following the completion of the transaction, the director now directly owns 5,449 shares of the company’s stock, valued at approximately $1,234,525.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Timothy K. Bliss sold 10,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the transaction, the director now directly owns 51,070 shares in the company, valued at approximately $11,605,146.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the transaction, the director now owns 5,449 shares in the company, valued at $1,234,525.44. The disclosure for this sale can be found here. Insiders sold 15,489 shares of company stock valued at $3,531,011 in the last three months. Corporate insiders own 9.15% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI lifted its position in AppFolio by 70.4% during the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock valued at $25,000 after acquiring an additional 57 shares during the last quarter. Zeno Equity Partners LLP acquired a new position in AppFolio during the 4th quarter valued at approximately $30,000. USA Financial Formulas acquired a new position in AppFolio during the 4th quarter valued at approximately $59,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in AppFolio during the 4th quarter valued at approximately $64,000. Finally, Meeder Asset Management Inc. acquired a new position in AppFolio during the 4th quarter valued at approximately $85,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

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.