BidaskClub downgraded shares of AppFolio, Inc. (NASDAQ:APPF) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

A number of other equities analysts have also issued reports on APPF. Zacks Investment Research lowered shares of AppFolio from a strong-buy rating to a hold rating in a research report on Monday, July 10th. Morgan Stanley raised their target price on shares of AppFolio to $33.00 and gave the stock an equal weight rating in a research report on Thursday, July 20th. Finally, Pacific Crest restated a hold rating on shares of AppFolio in a research report on Monday, May 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $31.33.

Shares of AppFolio (NASDAQ APPF) opened at 35.25 on Friday. The firm’s 50-day moving average is $33.42 and its 200 day moving average is $27.75. The stock’s market cap is $1.19 billion. AppFolio has a 52-week low of $14.86 and a 52-week high of $36.53.

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

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In related news, major shareholder Global Fund Ii L.P. Dragoneer sold 50,000 shares of AppFolio stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $31.00, for a total value of $1,550,000.00. Following the transaction, the insider now directly owns 23,469 shares in the company, valued at approximately $727,539. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Marc Stad sold 400,000 shares of AppFolio stock in a transaction 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 completion of the transaction, the insider now owns 25,780 shares in the company, valued at $773,400. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,088,711 shares of company stock worth $34,493,700. 44.77% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of APPF. Blair William & Co. IL increased its stake in AppFolio by 3.6% in the first quarter. Blair William & Co. IL now owns 109,040 shares of the software maker’s stock worth $2,710,000 after buying an additional 3,775 shares during the period. State Street Corp increased its stake in AppFolio by 14.4% in the fourth quarter. State Street Corp now owns 96,083 shares of the software maker’s stock worth $2,293,000 after buying an additional 12,096 shares during the period. Spark Investment Management LLC acquired a new stake in AppFolio during the first quarter worth approximately $388,000. Strs Ohio acquired a new stake in AppFolio during the first quarter worth approximately $359,000. Finally, Bank of New York Mellon Corp increased its stake in 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 period. Hedge funds and other institutional investors own 16.85% 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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