Short Interest in AppFolio, Inc. (NASDAQ:APPF) Drops By 5.7%

AppFolio, Inc. (NASDAQ:APPF) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 485,300 shares, a drop of 5.7% from the December 15th total of 514,900 shares. Based on an average trading volume of 220,600 shares, the days-to-cover ratio is currently 2.2 days.

Insider Activity

In other news, CEO William Shane Trigg sold 3,500 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $229.85, for a total value of $804,475.00. Following the completion of the transaction, the chief executive officer now directly owns 74,327 shares in the company, valued at approximately $17,084,060.95. This represents a 4.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew S. Mazza sold 5,090 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $236.24, for a total value of $1,202,461.60. Following the transaction, the insider now directly owns 28,266 shares in the company, valued at approximately $6,677,559.84. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,768 shares of company stock worth $5,744,891. 5.24% of the stock is currently owned by insiders.

Institutional Trading of AppFolio

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of AppFolio by 385.7% in the 4th quarter. SG Americas Securities LLC now owns 7,145 shares of the software maker’s stock worth $1,763,000 after purchasing an additional 5,674 shares during the period. Dakota Wealth Management bought a new position in AppFolio in the fourth quarter worth about $339,000. Nisa Investment Advisors LLC lifted its holdings in AppFolio by 11.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 616 shares of the software maker’s stock worth $152,000 after buying an additional 65 shares during the period. UMB Bank n.a. grew its holdings in shares of AppFolio by 193.0% during the 4th quarter. UMB Bank n.a. now owns 167 shares of the software maker’s stock worth $41,000 after acquiring an additional 110 shares during the period. Finally, Somerset Trust Co bought a new position in shares of AppFolio in the 4th quarter worth approximately $203,000. Institutional investors own 85.19% of the company’s stock.

AppFolio Trading Down 0.1 %

APPF stock opened at $251.92 on Monday. The firm’s 50-day moving average price is $249.85 and its two-hundred day moving average price is $235.58. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 70.17 and a beta of 0.87. AppFolio has a 12-month low of $172.98 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.26. The business had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. AppFolio’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 EPS. Equities analysts predict that AppFolio will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

APPF has been the topic of several research reports. KeyCorp downgraded shares of AppFolio from an “overweight” rating to a “sector weight” rating and set a $253.00 price target on the stock. in a research note on Friday, January 10th. Keefe, Bruyette & Woods downgraded shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, Piper Sandler cut AppFolio from an “overweight” rating to a “neutral” rating and set a $265.00 price objective on the stock. in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $268.57.

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.