AppFolio Inc (APPF) is Downgraded by Morgan Stanley to Equal-Weight, Lowers Price Target to $ 15

AppFolio Inc (APPF) was Downgraded by Morgan Stanley to ” Equal-Weight” while Lowering the Price Target of the company shares to $ 15 from a previous price target of $18 . Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on May 13, 2016.

AppFolio Inc opened for trading at $12.25 and hit $12.75 on the upside on Tuesday, eventually ending the session at $12.5, with a gain of 1.21% or 0.15 points. The heightened volatility saw the trading volume jump to 89,887 shares. Company has a market cap of $420 M.

In a different news, on Mar 9, 2016, Brian Donahoo (Chief Executive Officer) sold 60,000 shares at $12.00 per share price. According to the SEC, on Mar 3, 2016, Jonathan Walker (Chief Technology Officer) sold 225,000 shares at $12.00 per share price.

AppFolio Inc. is a provider of cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries or verticals. The Company’s mobile-optimized software solutions have an interface across multiple devices enabling its customers to work at any time and from anywhere. The Company’s property management software provides small and medium-sized property managers with an end-to-end solution to their business needs enabling them to manage properties in a single integrated environment. The Company’s legal software provides solo practitioners and small law firms with a streamlined practice and case management solution allowing them to manage their practices and case load within a flexible system. The Company also offers its professionally designed Websites and electronic payment services to property manager and law firm customers.

AppFolio Inc

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