AppFolio, Inc. (NASDAQ:APPF) Short Interest Down 15.3% in April

AppFolio, Inc. (NASDAQ:APPF - Get Free Report) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 1,050,000 shares, a decline of 15.3% from the March 31st total of 1,240,000 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 343,300 shares, the days-to-cover ratio is currently 3.1 days.

Insider Buying and Selling at AppFolio

In other news, Director Alexander Wolf bought 9,678 shares of AppFolio stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $214.81 per share, for a total transaction of $2,078,931.18. Following the purchase, the director now owns 3,226 shares of the company's stock, valued at approximately $692,977.06. This trade represents a -150.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $217.27, for a total transaction of $760,662.27. Following the sale, the chief executive officer now owns 83,824 shares of the company's stock, valued at $18,212,440.48. This trade represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.24% of the company's stock.

Institutional Trading of AppFolio

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its position in AppFolio by 881.2% during the fourth quarter. FMR LLC now owns 597,485 shares of the software maker's stock worth $147,411,000 after purchasing an additional 536,591 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in AppFolio in the 4th quarter valued at about $103,503,000. Norges Bank acquired a new stake in AppFolio during the fourth quarter worth approximately $68,037,000. Principal Financial Group Inc. boosted its holdings in shares of AppFolio by 121.2% during the first quarter. Principal Financial Group Inc. now owns 401,888 shares of the software maker's stock worth $88,375,000 after acquiring an additional 220,239 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of AppFolio by 43.2% in the fourth quarter. AQR Capital Management LLC now owns 655,625 shares of the software maker's stock valued at $161,756,000 after purchasing an additional 197,700 shares during the last quarter. Institutional investors own 85.19% of the company's stock.

AppFolio Trading Down 0.4 %

Shares of NASDAQ APPF traded down $0.76 during mid-day trading on Tuesday, hitting $213.58. The company had a trading volume of 219,767 shares, compared to its average volume of 269,997. The firm has a 50-day simple moving average of $217.35 and a two-hundred day simple moving average of $230.74. AppFolio has a one year low of $189.01 and a one year high of $274.56. The company has a market capitalization of $7.70 billion, a PE ratio of 38.48 and a beta of 0.99.

AppFolio (NASDAQ:APPF - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The software maker reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $217.70 million during the quarter, compared to analyst estimates of $220.95 million. AppFolio had a net margin of 25.69% and a return on equity of 26.21%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. Sell-side analysts expect that AppFolio will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

APPF has been the topic of several research reports. DA Davidson reduced their price target on shares of AppFolio from $300.00 to $275.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Piper Sandler restated a "neutral" rating and set a $265.00 target price on shares of AppFolio in a report on Wednesday, April 23rd. KeyCorp downgraded AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 price objective on the stock. in a research note on Friday, January 10th. Stephens reissued an "overweight" rating and issued a $295.00 target price on shares of AppFolio in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lowered their price target on AppFolio from $210.00 to $205.00 and set an "underweight" rating for the company in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, AppFolio presently has a consensus rating of "Hold" and a consensus price target of $274.43.

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.