AppFolio, Inc. (NASDAQ:APPF – Get Free Report) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 534,100 shares, a decrease of 5.5% from the October 31st total of 565,400 shares. Based on an average daily trading volume, of 167,000 shares, the days-to-cover ratio is presently 3.2 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of AppFolio from a “hold” rating to a “buy” rating in a report on Friday, November 17th. KeyCorp lifted their price objective on shares of AppFolio from $210.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Stephens raised shares of AppFolio from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $184.00 to $212.00 in a research report on Monday, August 21st. DA Davidson lifted their price objective on shares of AppFolio from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of AppFolio in a research report on Thursday, August 17th. They issued an “overweight” rating and a $200.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $218.75.

Read Our Latest Stock Analysis on APPF

AppFolio Stock Down 0.8 %

Shares of NASDAQ APPF traded down $1.42 during mid-day trading on Friday, reaching $187.83. 215,831 shares of the company were exchanged, compared to its average volume of 223,512. The company’s 50-day simple moving average is $189.40 and its 200-day simple moving average is $178.97. The stock has a market capitalization of $6.72 billion, a P/E ratio of -138.11 and a beta of 0.81. AppFolio has a twelve month low of $100.20 and a twelve month high of $211.41.

AppFolio (NASDAQ:APPF – Get Free Report) last posted its earnings results on Thursday, October 26th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.18. The company had revenue of $165.44 million during the quarter, compared to analysts’ expectations of $156.46 million. AppFolio had a negative net margin of 8.25% and a negative return on equity of 25.82%. As a group, equities research analysts expect that AppFolio will post 0.04 EPS for the current year.

Insiders Place Their Bets

In other news, insider Matthew S. Mazza sold 4,590 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $201.40, for a total transaction of $924,426.00. Following the sale, the insider now directly owns 41,299 shares of the company’s stock, valued at $8,317,618.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AppFolio news, CEO William Shane Trigg sold 7,430 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $200.10, for a total value of $1,486,743.00. Following the sale, the chief executive officer now directly owns 70,616 shares in the company, valued at $14,130,261.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Matthew S. Mazza sold 4,590 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $201.40, for a total transaction of $924,426.00. Following the completion of the sale, the insider now owns 41,299 shares in the company, valued at $8,317,618.60. The disclosure for this sale can be found here. Insiders own 9.15% of the company’s stock.

Institutional Investors Weigh In On AppFolio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI grew its holdings 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 valued at $25,000 after purchasing an additional 57 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in AppFolio during the 1st quarter worth approximately $30,000. Lazard Asset Management LLC bought a new stake in AppFolio during the 3rd quarter worth approximately $30,000. First Horizon Advisors Inc. grew its holdings in AppFolio by 2,922.2% during the 1st quarter. First Horizon Advisors Inc. now owns 272 shares of the software maker’s stock worth $34,000 after acquiring an additional 263 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in AppFolio during the 1st quarter worth approximately $39,000. 48.96% of the stock is owned by institutional investors.

About AppFolio (Get Free Report)

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry. The company offers AppFolio Property Manager, a platform to leverage process automation, easy to use interface, and the optimization of common workflows for property management companies, as well as completes and records critical transactions in the system and give its customers access to the data they need to run their business; AppFolio Property Manager Plus, which offers customizable workflows that allow customers to digitize their existing processes, performance insights, intelligent revenue management, and integrations through selected partners and dedicated strategic account managers; and AppFolio Investment Management, a solution that is designed to enable real estate investment management organizations to manage investor relationships through enhancing transparency and streamlining certain business processes.

See Also

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Original: MarketBeat News Feed: AppFolio, Inc. (NASDAQ:APPF) Sees Significant Drop in Short Interest