AppFolio Inc. (APPF) Cut to Hold at Zacks Investment Research
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 shares of AppFolio in a research report on Tuesday, August 9th. They set a hold rating and a $18.00 price target on the stock.
AppFolio (NASDAQ:APPF) opened at 18.68 on Tuesday. AppFolio has a 52-week low of $11.07 and a 52-week high of $19.98. The stock has a 50 day moving average of $18.99 and a 200 day moving average of $15.51. The stock’s market capitalization is $628.51 million.
AppFolio (NASDAQ:APPF) last issued its earnings results on Monday, August 8th. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.06. AppFolio had a negative net margin of 16.11% and a negative return on equity of 20.16%. On average, equities research analysts forecast that AppFolio will post ($0.30) EPS for the current year.
In related news, major shareholder Keenan Capital, Llc sold 5,700 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $19.67, for a total transaction of $112,119.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Walker sold 60,000 shares of the company’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $18.00, for a total transaction of $1,080,000.00. Following the transaction, the insider now owns 60,000 shares in the company, valued at approximately $1,080,000. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of AppFolio during the second quarter valued at about $155,000. State Street Corp increased 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 valued at $1,074,000 after buying an additional 3,346 shares during the period. Teachers Advisors Inc. increased its position in shares of AppFolio by 105.1% in the second quarter. Teachers Advisors Inc. now owns 12,077 shares of the company’s stock valued at $175,000 after buying an additional 6,190 shares during the period. BlackRock Institutional Trust Company N.A. increased 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 valued at $1,251,000 after buying an additional 12,349 shares during the period. Finally, BlackRock Fund Advisors increased 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 valued at $2,846,000 after buying an additional 51,631 shares during the period. Institutional investors and hedge funds own 13.35% 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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