AppFolio (NASDAQ:APPF) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of AppFolio (NASDAQ:APPFGet Rating) from a hold rating to a sell rating in a research note released on Thursday, Zacks.com reports.

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. “

Other equities analysts have also recently issued research reports about the company. KeyCorp raised AppFolio from a sector weight rating to an overweight rating and set a $143.00 price objective for the company in a report on Friday, April 8th. StockNews.com cut AppFolio from a hold rating to a sell rating in a report on Wednesday, May 18th. Finally, Stephens raised AppFolio from an underweight rating to an equal weight rating and boosted their price objective for the company from $105.00 to $107.00 in a report on Tuesday, February 8th.

Shares of APPF opened at $97.34 on Thursday. The stock has a 50-day moving average of $106.65 and a two-hundred day moving average of $115.12. AppFolio has a one year low of $79.92 and a one year high of $150.78. The stock has a market cap of $3.39 billion, a P/E ratio of -249.59 and a beta of 1.03.

AppFolio (NASDAQ:APPFGet Rating) last issued its quarterly earnings results on Monday, May 9th. The software maker reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.36). AppFolio had a negative return on equity of 4.72% and a negative net margin of 3.56%. During the same period last year, the firm posted $0.01 EPS. As a group, equities research analysts predict that AppFolio will post -1.6 EPS for the current fiscal year.

In related news, Director Janet Kerr sold 550 shares of AppFolio stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $92.61, for a total value of $50,935.50. Following the completion of the transaction, the director now owns 16,498 shares in the company, valued at approximately $1,527,879.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 36.02% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in AppFolio during the 1st quarter worth approximately $353,000. Nellore Capital Management LLC acquired a new position in shares of AppFolio during the 1st quarter worth approximately $16,069,000. Quantbot Technologies LP acquired a new position in shares of AppFolio during the 1st quarter worth approximately $167,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of AppFolio during the 1st quarter worth approximately $565,000. Finally, Eaton Vance Management acquired a new position in shares of AppFolio during the 1st quarter worth approximately $334,000. Institutional investors own 66.03% of the company’s stock.

About AppFolio (Get Rating)

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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