AppFolio Inc. (NASDAQ:APPF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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. “
Separately, Credit Suisse Group AG assumed coverage on AppFolio in a report on Tuesday, August 9th. They issued a “hold” rating and a $18.00 target price on the stock.
Shares of AppFolio (NASDAQ:APPF) traded down 1.42% during midday trading on Tuesday, hitting $18.78. The company had a trading volume of 9,593 shares. The stock’s 50-day moving average price is $18.96 and its 200-day moving average price is $15.44. The stock’s market capitalization is $631.87 million. AppFolio has a one year low of $11.07 and a one year high of $19.98.
AppFolio (NASDAQ:APPF) last issued its earnings results on Monday, August 8th. The company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.06. AppFolio had a negative return on equity of 20.16% and a negative net margin of 16.11%. Analysts predict that AppFolio will post ($0.30) EPS for the current year.
In other news, insider Jonathan Walker sold 60,000 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $18.00, for a total value of $1,080,000.00. Following the completion of the transaction, the insider now directly owns 60,000 shares in the company, valued at approximately $1,080,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jason Robert Randall sold 7,500 shares of the stock in a transaction on Friday, September 30th. The shares were sold at an average price of $19.44, for a total value of $145,800.00. The disclosure for this sale can be found here.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of AppFolio by 66.3% in the second quarter. Vanguard Group Inc. now owns 244,405 shares of the company’s stock worth $3,534,000 after buying an additional 97,398 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of AppFolio by 35.6% in the second quarter. BlackRock Fund Advisors now owns 196,806 shares of the company’s stock worth $2,846,000 after buying an additional 51,631 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of AppFolio by 16.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 86,517 shares of the company’s stock worth $1,251,000 after buying an additional 12,349 shares during the last quarter. State Street Corp boosted its position in shares of AppFolio by 4.7% in the second quarter. State Street Corp now owns 74,197 shares of the company’s stock worth $1,074,000 after buying an additional 3,346 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of AppFolio by 7.1% in the first quarter. Geode Capital Management LLC now owns 41,614 shares of the company’s stock worth $509,000 after buying an additional 2,758 shares during the last quarter. Institutional investors own 13.35% of the company’s stock.
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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