Short Interest in AppFolio, Inc. (NASDAQ:APPF) Increases By 17.3%

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 756,100 shares, a growth of 17.3% from the March 15th total of 644,500 shares. Based on an average trading volume of 323,400 shares, the short-interest ratio is currently 2.3 days.

Insider Activity

In other news, Director Timothy K. Bliss sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the sale, the director now directly owns 51,070 shares of the company's stock, valued at approximately $11,605,146.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Timothy K. Bliss sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $227.24, for a total value of $2,272,400.00. Following the sale, the director now directly owns 51,070 shares of the company's stock, valued at approximately $11,605,146.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Olivia Nottebohm sold 989 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the sale, the director now directly owns 1,909 shares in the company, valued at $461,500.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,489 shares of company stock valued at $3,531,011. Company insiders own 9.15% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of APPF. Long Walk Management LP boosted its stake in AppFolio by 62.7% during the 4th quarter. Long Walk Management LP now owns 122,000 shares of the software maker's stock worth $21,135,000 after purchasing an additional 47,000 shares during the period. Assenagon Asset Management S.A. boosted its stake in AppFolio by 103.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,881 shares of the software maker's stock worth $6,043,000 after purchasing an additional 17,706 shares during the period. Vanguard Group Inc. boosted its stake in AppFolio by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,001,727 shares of the software maker's stock worth $365,575,000 after purchasing an additional 46,827 shares during the period. Lord Abbett & CO. LLC acquired a new stake in AppFolio during the 3rd quarter worth $33,062,000. Finally, Jump Financial LLC acquired a new stake in AppFolio during the 3rd quarter worth $1,005,000. Institutional investors and hedge funds own 62.34% of the company's stock.

AppFolio Stock Performance

Shares of NASDAQ:APPF traded down $2.66 during trading hours on Friday, reaching $221.43. The stock had a trading volume of 180,341 shares, compared to its average volume of 416,365. The firm's 50 day moving average is $232.58 and its 200-day moving average is $203.10. AppFolio has a 1 year low of $123.36 and a 1 year high of $253.42. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 7,383.29 and a beta of 0.80.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.29. AppFolio had a net margin of 0.44% and a negative return on equity of 8.58%. The business had revenue of $171.83 million during the quarter, compared to analysts' expectations of $162.80 million. Analysts forecast that AppFolio will post 2.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on APPF shares. BTIG Research started coverage on shares of AppFolio in a research note on Friday, January 19th. They set a "buy" rating and a $215.00 target price on the stock. StockNews.com downgraded shares of AppFolio from a "buy" rating to a "hold" rating in a research note on Thursday, December 21st. KeyCorp increased their price objective on shares of AppFolio from $254.00 to $264.00 and gave the company an "overweight" rating in a research report on Monday, March 18th. Stephens reissued an "overweight" rating and issued a $241.00 price objective on shares of AppFolio in a research report on Friday, January 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AppFolio from $228.00 to $237.00 and gave the company an "overweight" rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $239.40.

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.