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

A number of other brokerages have also issued reports on APPF. BidaskClub upgraded shares of AppFolio from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. KeyCorp restated a “buy” rating on shares of AppFolio in a research report on Friday, August 11th. Credit Suisse Group restated a “neutral” rating and set a $35.00 target price (up from $27.00) on shares of AppFolio in a research report on Tuesday, August 8th. Finally, Morgan Stanley raised their target price on shares of AppFolio from $33.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $43.33.

AppFolio (APPF) traded down 0.90% during mid-day trading 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 stock has a market cap of $1.68 billion, a PE ratio of 1598.39 and a beta of 0.76. The company has a 50 day moving average of $47.91 and a 200-day moving average of $47.91.

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In related news, major shareholder Global Fund Ii L.P. Dragoneer sold 75,000 shares of AppFolio stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $35.01, for a total value of $2,625,750.00. Following the transaction, the insider now directly owns 69,723 shares in the company, valued at approximately $2,441,002.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Marc Stad sold 2,227 shares of AppFolio stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $36.75, for a total transaction of $81,842.25. Following the completion of the transaction, the insider now owns 73,153 shares in the company, valued at $2,688,372.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 951,527 shares of company stock worth $33,891,917. 44.77% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the stock. American International Group Inc. grew its position in AppFolio by 7.2% in the 1st quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock valued at $127,000 after buying an additional 314 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in AppFolio by 11.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,782 shares of the software maker’s stock valued at $254,000 after buying an additional 774 shares during the last quarter. Bank of New York Mellon Corp grew its position in AppFolio by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 28,094 shares of the software maker’s stock valued at $764,000 after buying an additional 2,445 shares during the last quarter. Sei Investments Co. grew its position in AppFolio by 50,928.6% in the 2nd quarter. Sei Investments Co. now owns 3,572 shares of the software maker’s stock valued at $117,000 after buying an additional 3,565 shares during the last quarter. Finally, UBS Group AG grew its position in AppFolio by 232.9% in the 1st quarter. UBS Group AG now owns 5,187 shares of the software maker’s stock valued at $142,000 after buying an additional 3,629 shares during the last quarter. Hedge funds and other institutional investors own 20.88% of the company’s stock.

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.

Analyst Recommendations for AppFolio (NASDAQ:APPF)

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