AppFolio, Inc. (NASDAQ:APPF) Short Interest Down 11.2% in July

AppFolio, Inc. (NASDAQ:APPF) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 669,700 shares, a decline of 11.2% from the July 15th total of 753,800 shares. Based on an average trading volume of 294,600 shares, the days-to-cover ratio is currently 2.3 days.

AppFolio Stock Performance

Shares of APPF traded down $1.52 during mid-day trading on Friday, hitting $219.70. 168,142 shares of the stock were exchanged, compared to its average volume of 301,001. The firm has a 50-day moving average of $237.60 and a two-hundred day moving average of $234.07. AppFolio has a 52-week low of $164.29 and a 52-week high of $274.56. The company has a market cap of $7.96 billion, a PE ratio of 106.14 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, July 25th. The software maker reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.16. AppFolio had a return on equity of 27.39% and a net margin of 17.32%. The company had revenue of $197.38 million for the quarter, compared to analysts’ expectations of $190.57 million. During the same period in the previous year, the firm posted ($0.53) earnings per share. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, sell-side analysts predict that AppFolio will post 2.99 EPS for the current year.

Insider Transactions at AppFolio

In other AppFolio news, Director Blottnitz Andreas Von sold 5,111 shares of AppFolio stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $240.24, for a total value of $1,227,866.64. Following the completion of the sale, the director now owns 8,838 shares of the company’s stock, valued at approximately $2,123,241.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other AppFolio news, Director Blottnitz Andreas Von sold 5,111 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $240.24, for a total value of $1,227,866.64. Following the transaction, the director now directly owns 8,838 shares of the company’s stock, valued at $2,123,241.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Maurice J. Duca sold 11,627 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $240.08, for a total transaction of $2,791,410.16. Following the sale, the insider now directly owns 27,768 shares of the company’s stock, valued at approximately $6,666,541.44. The disclosure for this sale can be found here. Insiders sold 130,140 shares of company stock worth $30,928,274 over the last three months. 9.15% of the stock is currently owned by company insiders.

Institutional Trading of AppFolio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AppFolio by 17.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,369 shares of the software maker’s stock worth $757,000 after buying an additional 648 shares during the period. Calamos Advisors LLC boosted its stake in shares of AppFolio by 20.6% during the fourth quarter. Calamos Advisors LLC now owns 10,427 shares of the software maker’s stock valued at $1,806,000 after purchasing an additional 1,781 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of AppFolio by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,114 shares of the software maker’s stock worth $366,000 after purchasing an additional 55 shares during the last quarter. Handelsbanken Fonder AB increased its stake in AppFolio by 38.5% in the 4th quarter. Handelsbanken Fonder AB now owns 3,600 shares of the software maker’s stock worth $624,000 after buying an additional 1,000 shares during the period. Finally, Jennison Associates LLC lifted its holdings in AppFolio by 45.4% during the 4th quarter. Jennison Associates LLC now owns 2,963 shares of the software maker’s stock valued at $513,000 after buying an additional 925 shares in the last quarter. 62.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APPF shares. Piper Sandler boosted their price target on AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Piper Sandler Companies reissued an “overweight” rating and issued a $300.00 target price on shares of AppFolio in a report on Friday, July 26th. DA Davidson lifted their price target on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com raised shares of AppFolio from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, AppFolio has a consensus rating of “Moderate Buy” and an average price target of $277.75.

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.