Zacks Investment Research upgraded shares of AppFolio, Inc. (NASDAQ:APPF) from a hold rating to a buy rating in a research report released on Wednesday, July 12th. Zacks Investment Research currently has $36.00 price target on the software maker’s stock.

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. “

Several other equities analysts have also recently weighed in on the stock. Pacific Crest reaffirmed a hold rating on shares of AppFolio in a research report on Monday, May 8th. BidaskClub raised shares of AppFolio from a buy rating to a strong-buy rating in a research report on Wednesday, June 21st. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. AppFolio currently has a consensus rating of Buy and a consensus target price of $31.33.

AppFolio (APPF) traded down 1.40% during trading on Wednesday, hitting $35.30. The company had a trading volume of 165,931 shares. The company’s market capitalization is $1.20 billion. The stock has a 50-day moving average of $32.49 and a 200 day moving average of $26.97. AppFolio has a one year low of $14.79 and a one year high of $36.53.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Friday, May 5th. The software maker reported $0.02 earnings per share for the quarter, beating the Zacks’ 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 the consensus estimate of $30.20 million. Equities analysts forecast that AppFolio will post $0.14 EPS for the current fiscal year.

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In related news, major shareholder William E. Oberndorf sold 3,250 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $27.00, for a total transaction of $87,750.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Marc Stad sold 400,000 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $30.00, for a total transaction of $12,000,000.00. Following the transaction, the insider now owns 25,780 shares in the company, valued at approximately $773,400. The disclosure for this sale can be found here. Insiders have sold a total of 844,161 shares of company stock valued at $25,955,358 over the last ninety days. 44.77% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPF. First Quadrant L P CA purchased a new stake in shares of AppFolio during the second quarter worth about $225,000. Goldman Sachs Group Inc. bought a new position in AppFolio during the first quarter valued at $282,000. Dragoneer Investment Group LLC boosted its position in AppFolio by 3.2% in the first quarter. Dragoneer Investment Group LLC now owns 2,124,003 shares of the software maker’s stock valued at $57,773,000 after buying an additional 66,659 shares during the last quarter. Renaissance Technologies LLC bought a new position in AppFolio during the first quarter valued at $558,000. Finally, UBS Group AG boosted 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. Institutional investors and hedge funds own 16.61% 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.

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