AppFolio, Inc. (APPF) Rating Lowered to Hold at Zacks Investment Research

AppFolio, Inc. (NASDAQ:APPF) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “AppFolio, Inc. offers cloud-based software solutions for property management and legal industries. It offers AppFolio Property Manager, a solution for the property managers including activities of posting and tracking tenant vacancies, handling the entire leasing process electronically, administering maintenance and repairs with their vendor networks, managing accounting and reporting to property owners. MyCase solution for practitioners and small law firms, providing time tracking, billing and payments, client communication, coordination with other lawyers and support staff, legal document management and assembly and general office administration services. Value+ services include Websites and electronic payment services. AppFolio, Inc. is headquartered Goleta, California. “

APPF has been the subject of several other research reports. BidaskClub raised AppFolio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Morgan Stanley lifted their price target on AppFolio from $33.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 8th. Credit Suisse Group reaffirmed a “neutral” rating and set a $35.00 price target (up previously from $27.00) on shares of AppFolio in a research note on Tuesday, August 8th. Finally, KeyCorp reaffirmed a “buy” rating on shares of AppFolio in a research note on Friday, August 11th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. AppFolio presently has an average rating of “Buy” and a consensus target price of $38.33.

AppFolio (APPF) traded down 0.39% during midday trading on Tuesday, hitting $50.90. 172,144 shares of the stock were exchanged. AppFolio has a one year low of $18.39 and a one year high of $52.25. The stock has a market cap of $1.73 billion, a P/E ratio of 1641.94 and a beta of 0.76. The firm has a 50-day moving average price of $47.14 and a 200-day moving average price of $47.14.

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In other news, major shareholder Global Fund Ii L.P. Dragoneer sold 75,000 shares of AppFolio stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $35.16, for a total transaction of $2,637,000.00. Following the completion of the transaction, the insider now owns 74,344 shares of the company’s stock, valued at approximately $2,613,935.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Marc Stad sold 198,200 shares of AppFolio stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $36.18, for a total value of $7,170,876.00. Following the transaction, the insider now directly owns 73,153 shares of the company’s stock, valued at approximately $2,646,675.54. The disclosure for this sale can be found here. Insiders have sold a total of 972,438 shares of company stock valued at $34,571,525 in the last ninety days. Corporate insiders own 44.77% of the company’s stock.

A number of institutional investors have recently bought and sold shares of APPF. Sei Investments Co. increased its position in AppFolio by 50,928.6% during the 2nd quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock worth $117,000 after purchasing an additional 3,565 shares in the last quarter. American International Group Inc. increased its position in AppFolio by 7.2% during the 1st quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock worth $127,000 after purchasing an additional 314 shares in the last quarter. UBS Group AG increased its position in AppFolio by 232.9% during the 1st quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock worth $142,000 after purchasing an additional 3,629 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in AppFolio during the 2nd quarter worth about $178,000. Finally, Parametric Portfolio Associates LLC purchased a new stake in AppFolio during the 2nd quarter worth about $214,000. Hedge funds and other institutional investors own 20.88% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices.

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