AppFolio (NASDAQ:APPF) Upgraded at Zacks Investment Research

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AppFolio (NASDAQ:APPF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, reports.

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 equities analysts have also issued research reports about the stock. TheStreet lowered shares of AppFolio from a “b” rating to a “c+” rating in a research report on Wednesday, March 24th. DA Davidson lifted their price target on shares of AppFolio from $110.00 to $126.00 and gave the stock an “underperform” rating in a research report on Thursday, February 25th. Finally, Stephens began coverage on AppFolio in a report on Monday, January 25th. They issued an “underweight” rating and a $115.00 price target on the stock. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $145.50.

NASDAQ APPF traded down $9.26 during trading hours on Tuesday, hitting $133.66. The company had a trading volume of 5,628 shares, compared to its average volume of 170,033. The business has a fifty day simple moving average of $142.97 and a 200-day simple moving average of $156.08. The firm has a market cap of $4.60 billion, a P/E ratio of 29.22 and a beta of 1.17. AppFolio has a fifty-two week low of $92.52 and a fifty-two week high of $186.59.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Sunday, February 28th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The business had revenue of $72.43 million during the quarter, compared to the consensus estimate of $73.96 million. AppFolio had a return on equity of 95.27% and a net margin of 53.56%. On average, equities research analysts expect that AppFolio will post 4.57 earnings per share for the current fiscal year.

In related news, Director Janet Kerr sold 350 shares of the stock in a transaction that occurred on Wednesday, February 3rd. The stock was sold at an average price of $157.72, for a total value of $55,202.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William R. Rauth III sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $171.33, for a total transaction of $3,426,600.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $3,426,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,550 shares of company stock valued at $12,685,832. 41.99% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Steadfast Capital Management LP acquired a new position in AppFolio during the fourth quarter worth $51,957,000. Morgan Stanley lifted its stake in shares of AppFolio by 62.2% in the fourth quarter. Morgan Stanley now owns 747,487 shares of the software maker’s stock worth $134,576,000 after buying an additional 286,659 shares during the last quarter. Norges Bank bought a new stake in shares of AppFolio during the 4th quarter worth $40,493,000. Glynn Capital Management LLC grew its stake in AppFolio by 134.6% in the 1st quarter. Glynn Capital Management LLC now owns 206,289 shares of the software maker’s stock valued at $29,171,000 after buying an additional 118,353 shares during the last quarter. Finally, FMR LLC bought a new position in AppFolio in the 1st quarter worth $4,105,000. 40.81% of the stock is owned by institutional investors and hedge funds.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides industry-specific cloud-based business software solutions, services, and data analytics for the real estate industry. The company offers AppFolio Property Manager, a property management solution designed to address the operational and business requirements of property management companies and their business ecosystems; and AppFolio Investment Management, a cloud-based software solution for real estate investment managers of various sizes that provide tools and services designed to streamline their real estate investment management businesses.

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