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

Separately, Credit Suisse Group AG initiated coverage on AppFolio in a research report on Tuesday, August 9th. They set a “hold” rating and a $18.00 target price for the company.

Shares of AppFolio (NASDAQ:APPF) traded down 1.42% during midday trading on Tuesday, reaching $18.78. The company had a trading volume of 9,593 shares. The company’s 50-day moving average is $18.96 and its 200-day moving average is $15.44. AppFolio has a 52-week low of $11.07 and a 52-week high of $19.98. The firm’s market cap is $631.87 million.

AppFolio (NASDAQ:APPF) last released its earnings results on Monday, August 8th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. AppFolio had a negative return on equity of 20.16% and a negative net margin of 16.11%. Equities research analysts expect that AppFolio will post ($0.30) EPS for the current fiscal year.

In related news, SVP Jason Robert Randall sold 7,500 shares of AppFolio stock in a transaction on Friday, September 30th. The stock was sold at an average price of $19.44, for a total transaction of $145,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Keenan Capital, Llc sold 5,700 shares of AppFolio stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $19.67, for a total value of $112,119.00. The disclosure for this sale can be found here.

Several large investors have recently made changes to their positions in APPF. Summit Securities Group LLC bought a new stake in shares of AppFolio during the second quarter worth approximately $155,000. State Street Corp boosted its stake 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 period. Teachers Advisors Inc. boosted its stake in shares of AppFolio by 105.1% in the second quarter. Teachers Advisors Inc. now owns 12,077 shares of the company’s stock worth $175,000 after buying an additional 6,190 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake 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 period. Finally, BlackRock Fund Advisors boosted its stake 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 period. 13.35% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:APPF

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