AppFolio, Inc. (NASDAQ:APPF) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC reduced its position in AppFolio, Inc. (NASDAQ:APPF) by 25.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,123 shares of the software maker’s stock after selling 4,121 shares during the quarter. ClariVest Asset Management LLC’s holdings in AppFolio were worth $2,965,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. New Mexico Educational Retirement Board purchased a new stake in AppFolio in the 2nd quarter valued at $1,027,000. Los Angeles Capital Management LLC raised its holdings in shares of AppFolio by 516.6% in the second quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock valued at $26,866,000 after buying an additional 92,034 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of AppFolio by 8.0% during the second quarter. Arizona State Retirement System now owns 5,784 shares of the software maker’s stock worth $1,415,000 after buying an additional 430 shares during the period. TD Asset Management Inc grew its holdings in shares of AppFolio by 48.1% during the second quarter. TD Asset Management Inc now owns 8,000 shares of the software maker’s stock worth $1,957,000 after buying an additional 2,600 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its position in AppFolio by 185.3% in the 2nd quarter. Belpointe Asset Management LLC now owns 2,839 shares of the software maker’s stock valued at $694,000 after acquiring an additional 1,844 shares during the period. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AppFolio news, major shareholder Maurice J. Duca sold 2,274 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $233.01, for a total transaction of $529,864.74. Following the transaction, the insider now owns 19,122 shares of the company’s stock, valued at approximately $4,455,617.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other AppFolio news, major shareholder Maurice J. Duca sold 2,274 shares of AppFolio stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $233.01, for a total value of $529,864.74. Following the completion of the sale, the insider now owns 19,122 shares in the company, valued at approximately $4,455,617.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the transaction, the chief executive officer now owns 81,699 shares in the company, valued at $17,890,447.02. The disclosure for this sale can be found here. In the last three months, insiders sold 66,454 shares of company stock valued at $15,905,409. Company insiders own 9.15% of the company’s stock.

Analyst Ratings Changes

APPF has been the subject of a number of recent research reports. KeyCorp increased their price objective on AppFolio from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler lifted their price objective on shares of AppFolio from $295.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. DA Davidson raised their target price on shares of AppFolio from $285.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on shares of AppFolio from $260.00 to $328.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $277.75.

AppFolio Stock Down 0.5 %

NASDAQ APPF opened at $220.77 on Wednesday. AppFolio, Inc. has a fifty-two week low of $164.29 and a fifty-two week high of $274.56. The business has a fifty day moving average of $234.51 and a 200-day moving average of $233.72. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of 106.65 and a beta of 0.81.

AppFolio (NASDAQ:APPF) last released its earnings results on Thursday, July 25th. The software maker reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.16. The company had revenue of $197.38 million for the quarter, compared to analyst estimates of $190.57 million. AppFolio had a net margin of 17.32% and a return on equity of 27.39%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.53) EPS. As a group, analysts anticipate that AppFolio, Inc. will post 3.04 EPS for the current year.

AppFolio Profile

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.