Zacks Investment Research upgraded shares of AppFolio, Inc. (NASDAQ:APPF) from a hold rating to a buy rating in a report released on Wednesday, July 12th. The firm currently has $36.00 target price 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. “

APPF has been the subject of several other reports. Pacific Crest reiterated a hold rating on shares of AppFolio in a research report on Monday, May 8th. BidaskClub upgraded AppFolio from a buy rating to a strong-buy rating in a research report on Wednesday, June 21st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. AppFolio currently has a consensus rating of Hold and a consensus price target of $31.33.

Shares of AppFolio (NASDAQ APPF) opened at 35.00 on Wednesday. The stock has a 50 day moving average of $33.42 and a 200 day moving average of $27.75. AppFolio has a 52 week low of $14.86 and a 52 week high of $36.53. The firm’s market cap is $1.18 billion.

AppFolio (NASDAQ:APPF) last issued its earnings results on Friday, May 5th. The software maker reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.09. The firm had revenue of $32.13 million for the quarter, compared to analyst estimates of $30.20 million. AppFolio had a negative return on equity of 5.77% and a negative net margin of 3.51%. Equities analysts forecast that AppFolio will post $0.14 earnings per share for the current year.

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In related news, major shareholder Marc Stad sold 400,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $30.00, for a total value of $12,000,000.00. Following the transaction, the insider now directly owns 25,780 shares of the company’s stock, valued at approximately $773,400. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Global Fund Ii L.P. Dragoneer sold 75,000 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $35.16, for a total value of $2,637,000.00. Following the completion of the sale, the insider now owns 74,344 shares of the company’s stock, valued at approximately $2,613,935.04. The disclosure for this sale can be found here. Insiders have sold a total of 1,091,961 shares of company stock worth $34,581,450 in the last quarter. Company insiders own 44.77% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of APPF. American International Group Inc. raised its position in shares of AppFolio by 7.2% in the first quarter. American International Group Inc. now owns 4,683 shares of the software maker’s stock worth $127,000 after buying an additional 314 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of AppFolio by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 28,094 shares of the software maker’s stock worth $764,000 after buying an additional 2,445 shares during the last quarter. Sei Investments Co. raised its position in AppFolio by 50,928.6% in the second 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 in the last quarter. UBS Group AG raised 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 in the last quarter. Finally, Blair William & Co. IL raised its position in AppFolio by 3.6% in the first quarter. Blair William & Co. IL now owns 109,040 shares of the software maker’s stock valued at $2,710,000 after buying an additional 3,775 shares in the last quarter. Hedge funds and other institutional investors own 16.85% of the company’s stock.

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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