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

Other research analysts have also issued reports about the stock. Credit Suisse Group reiterated a “neutral” rating and issued a $35.00 price target (up from $27.00) on shares of AppFolio in a research note on Tuesday, August 8th. BidaskClub lowered shares of AppFolio from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Morgan Stanley raised their price objective on shares of AppFolio from $33.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 8th. Finally, KeyCorp restated a “buy” rating on shares of AppFolio in a research note on Friday, August 11th. Four research 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 a consensus rating of “Buy” and an average target price of $38.33.

Shares of AppFolio (NASDAQ:APPF) traded down 0.39% during trading on Tuesday, reaching $50.90. 172,144 shares of the company were exchanged. AppFolio has a one year low of $18.39 and a one year high of $52.25. The stock has a market capitalization of $1.73 billion, a PE ratio of 1641.94 and a beta of 0.76. The stock 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 the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $35.16, for a total transaction of $2,637,000.00. Following the sale, the insider now owns 74,344 shares of the company’s stock, valued at approximately $2,613,935.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Marc Stad sold 2,227 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $36.75, for a total transaction of $81,842.25. Following the sale, the insider now directly owns 73,153 shares in the company, valued at approximately $2,688,372.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 972,438 shares of company stock worth $34,571,525. Insiders own 44.77% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in APPF. Sei Investments Co. boosted its holdings in shares of AppFolio by 50,928.6% during the 2nd quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock valued at $117,000 after acquiring an additional 3,565 shares during the last quarter. American International Group Inc. boosted its holdings in shares of AppFolio by 7.2% in the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock worth $127,000 after buying an additional 314 shares during the last quarter. UBS Group AG boosted its holdings in shares of AppFolio by 232.9% in the first quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock worth $142,000 after buying an additional 3,629 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of AppFolio in the second quarter worth approximately $178,000. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of AppFolio in the second quarter worth approximately $214,000. 20.88% of the stock is currently owned by hedge funds and other institutional investors.

About AppFolio

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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Analyst Recommendations for AppFolio (NASDAQ:APPF)

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