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

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 reports. KeyCorp reaffirmed a “buy” rating on shares of AppFolio in a research report on Friday, August 11th. Morgan Stanley increased their price objective on shares of AppFolio to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, July 20th. BidaskClub raised shares of AppFolio from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $35.00 price objective (up from $27.00) on shares of AppFolio in a research report on Tuesday, August 8th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $43.33.

AppFolio (NASDAQ:APPF) traded down 0.90% on Thursday, hitting $49.55. 151,883 shares of the stock traded hands. AppFolio has a 12 month low of $18.40 and a 12 month high of $52.25. The firm has a 50-day moving average price of $47.91 and a 200-day moving average price of $47.91. The company has a market capitalization of $1.68 billion, a PE ratio of 1598.39 and a beta of 0.76.

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In other AppFolio news, major shareholder Marc Stad sold 198,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $36.18, for a total transaction of $7,170,876.00. Following the completion of the transaction, the insider now directly owns 73,153 shares of the company’s stock, valued at approximately $2,646,675.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Global Fund Ii L.P. Dragoneer sold 503,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $35.79, for a total transaction of $18,013,107.00. Following the transaction, the insider now directly owns 52,263 shares of the company’s stock, valued at $1,870,492.77. The disclosure for this sale can be found here. Insiders have sold a total of 951,527 shares of company stock valued at $33,891,917 over the last three months. 44.77% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of APPF. Oberndorf William E raised its position in AppFolio by 95.0% during the 4th quarter. Oberndorf William E now owns 1,368,355 shares of the software maker’s stock worth $19,978,000 after buying an additional 666,667 shares during the last quarter. Glynn Capital Management LLC purchased a new position in AppFolio during the 2nd quarter worth approximately $8,150,000. Lord Abbett & CO. LLC purchased a new position in AppFolio during the 4th quarter worth approximately $3,490,000. Laurion Capital Management LP purchased a new position in AppFolio during the 2nd quarter worth approximately $7,075,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in AppFolio during the 2nd quarter worth approximately $2,615,000. 20.88% of the stock is owned by 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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