Zacks Investment Research cut shares of AppFolio, Inc. (NASDAQ:APPF) from a buy rating to a hold rating in a report published on Friday.
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 analysts have also issued reports about the company. BidaskClub upgraded AppFolio from a buy rating to a strong-buy rating in a report on Wednesday, June 21st. Pacific Crest reiterated a hold rating on shares of AppFolio in a report on Monday, May 8th. Finally, Morgan Stanley increased their price objective on AppFolio to $33.00 and gave the stock an equal weight rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. AppFolio has an average rating of Buy and an average price target of $31.33.
AppFolio (NASDAQ:APPF) traded down 1.40% during midday trading on Friday, reaching $35.30. The company’s stock had a trading volume of 165,931 shares. The stock’s 50-day moving average price is $32.49 and its 200-day moving average price is $26.97. The firm’s market capitalization is $1.20 billion. AppFolio has a 12 month low of $14.79 and a 12 month high of $36.53.
AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Friday, May 5th. The software maker reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. AppFolio had a negative return on equity of 5.77% and a negative net margin of 3.51%. The business had revenue of $32.13 million during the quarter, compared to analyst estimates of $30.20 million. Analysts predict that AppFolio will post $0.14 EPS for the current year.
In other AppFolio news, major shareholder William E. Oberndorf sold 3,250 shares of the stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $27.00, for a total transaction of $87,750.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Global Fund Ii L.P. Dragoneer sold 20,911 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $32.50, for a total transaction of $679,607.50. Following the transaction, the insider now directly owns 76,655 shares in the company, valued at $2,491,287.50. The disclosure for this sale can be found here. Insiders have sold 844,161 shares of company stock worth $25,955,358 over the last three months. Company insiders own 44.77% of the company’s stock.
A number of institutional investors have recently bought and sold shares of APPF. American International Group Inc. increased its position in AppFolio by 7.2% in the first 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. UBS Group AG increased its position in AppFolio by 232.9% in the first 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. First Quadrant L P CA acquired a new position in AppFolio during the second quarter valued at approximately $225,000. Goldman Sachs Group Inc. acquired a new position in AppFolio during the first quarter valued at approximately $282,000. Finally, Strs Ohio acquired a new position in AppFolio during the first quarter valued at approximately $359,000. 16.61% of the stock is currently owned by hedge funds and other institutional investors.
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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