AppFolio, Inc. (NASDAQ:APPF) Sees Large Growth in Short Interest

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) saw a significant 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 days-to-cover ratio is currently 3.5 days.

Analyst Ratings Changes

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

AppFolio Stock Performance

NASDAQ:APPF traded up $26.10 during trading on Friday, reaching $242.75. The company's stock had a trading volume of 714,925 shares, compared to its average volume of 229,153. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 117.27 and a beta of 0.80. The firm has a 50 day moving average of $229.59 and a 200-day moving average of $205.11. AppFolio has a 12 month low of $123.36 and a 12 month high of $256.73.

AppFolio (NASDAQ:APPF - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The software maker reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.29. The company had revenue of $171.83 million during the quarter, compared to the consensus estimate of $162.80 million. AppFolio had a return on equity of 14.51% and a net margin of 11.38%. Equities research analysts forecast that AppFolio will post 2.66 earnings per share for the current fiscal year.

Insider Transactions at AppFolio

In other news, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the sale, the director now owns 51,070 shares of the company's stock, valued at $11,605,146.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the sale, the director now owns 51,070 shares of the company's stock, valued at $11,605,146.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total value of $1,019,520.00. Following the sale, the director now directly owns 5,449 shares of the company's stock, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,489 shares of company stock valued at $3,531,011. 9.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Arcadia Investment Management Corp MI grew its stake in shares of AppFolio by 70.4% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker's stock worth $25,000 after acquiring an additional 57 shares during the period. Zeno Equity Partners LLP bought a new position in AppFolio in the 4th quarter worth about $30,000. USA Financial Formulas bought a new position in AppFolio in the 4th quarter worth about $59,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in AppFolio in the 4th quarter worth about $64,000. Finally, Headlands Technologies LLC bought a new position in AppFolio in the 4th quarter worth about $85,000. 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.