AppFolio, Inc. (NASDAQ:APPF – Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 468,000 shares, a growth of 7.5% from the August 15th total of 435,500 shares. Based on an average daily volume of 137,200 shares, the days-to-cover ratio is presently 3.4 days.
Insider Buying and Selling at AppFolio
In other AppFolio news, Director Janet Kerr sold 250 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $172.46, for a total value of $43,115.00. Following the transaction, the director now directly owns 16,876 shares of the company’s stock, valued at $2,910,434.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.15% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On AppFolio
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dark Forest Capital Management LP boosted its stake in AppFolio by 1,472.2% in the fourth quarter. Dark Forest Capital Management LP now owns 283 shares of the software maker’s stock valued at $30,000 after acquiring an additional 265 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of AppFolio during the first quarter valued at approximately $30,000. First Horizon Advisors Inc. raised its holdings in shares of AppFolio by 2,922.2% during the first quarter. First Horizon Advisors Inc. now owns 272 shares of the software maker’s stock valued at $34,000 after buying an additional 263 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of AppFolio during the first quarter valued at approximately $39,000. Finally, Assetmark Inc. bought a new stake in shares of AppFolio during the first quarter valued at approximately $45,000. 48.96% of the stock is currently owned by institutional investors and hedge funds.
AppFolio Stock Down 0.7 %
AppFolio (NASDAQ:APPF – Get Free Report) last issued its earnings results on Thursday, July 27th. The software maker reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.63). AppFolio had a negative net margin of 14.63% and a negative return on equity of 31.03%. The company had revenue of $147.08 million during the quarter, compared to analyst estimates of $143.76 million. During the same quarter in the previous year, the firm earned ($0.86) earnings per share. The business’s revenue was up 25.2% on a year-over-year basis. Sell-side analysts predict that AppFolio will post -0.25 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on APPF. DA Davidson upgraded AppFolio from a “neutral” rating to a “buy” rating and raised their target price for the company from $155.00 to $230.00 in a research note on Thursday, August 31st. StockNews.com initiated coverage on AppFolio in a research note on Thursday, August 17th. They set a “hold” rating for the company. KeyCorp lifted their price target on AppFolio from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. William Blair upgraded AppFolio from a “market perform” rating to an “outperform” rating in a research note on Monday, August 28th. Finally, Stephens upgraded AppFolio from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $184.00 to $212.00 in a research note on Monday, August 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AppFolio currently has an average rating of “Moderate Buy” and an average target price of $213.00.
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.
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