ClariVest Asset Management LLC Cuts Position in AppFolio, Inc. (NASDAQ:APPF)

ClariVest Asset Management LLC lowered its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 25.4% in the second quarter, according to its most recent 13F filing with the SEC. 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in AppFolio during the fourth quarter worth approximately $38,458,000. Zeno Equity Partners LLP purchased a new stake in AppFolio during the 4th quarter worth $33,434,000. Principal Financial Group Inc. boosted its position in AppFolio by 2,359.8% during the 1st quarter. Principal Financial Group Inc. now owns 151,646 shares of the software maker’s stock worth $37,417,000 after purchasing an additional 145,481 shares during the period. Westwind Capital increased its holdings in AppFolio by 301.0% in the 2nd quarter. Westwind Capital now owns 149,240 shares of the software maker’s stock valued at $3,650,000 after purchasing an additional 112,024 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in AppFolio in the fourth quarter valued at about $18,636,000. Institutional investors and hedge funds own 62.34% of the company’s stock.

AppFolio Trading Down 0.5 %

AppFolio stock opened at $220.77 on Wednesday. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The stock has a market cap of $8.01 billion, a P/E ratio of 106.65 and a beta of 0.81. The stock has a 50 day moving average of $234.51 and a 200-day moving average of $233.72.

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

Insider Transactions at AppFolio

In related news, major shareholder Maurice J. Duca sold 2,100 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $231.20, for a total value of $485,520.00. Following the completion of the sale, the insider now directly owns 55,000 shares of the company’s stock, valued at $12,716,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other AppFolio news, major shareholder Maurice J. Duca sold 2,100 shares of AppFolio stock in a transaction on Friday, June 14th. The shares were sold at an average price of $231.20, for a total value of $485,520.00. Following the completion of the transaction, the insider now owns 55,000 shares of the company’s stock, valued at $12,716,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Janet Kerr sold 2,500 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $232.33, for a total transaction of $580,825.00. Following the sale, the director now owns 13,180 shares of the company’s stock, valued at approximately $3,062,109.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,454 shares of company stock valued at $15,905,409. Insiders own 9.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on APPF. Piper Sandler upped their target price on AppFolio from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Piper Sandler Companies restated an “overweight” rating and issued a $300.00 price target on shares of AppFolio in a report on Friday, July 26th. DA Davidson lifted their price objective on shares of AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their target price on shares of AppFolio from $260.00 to $328.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, StockNews.com lowered shares of AppFolio from a “buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $277.75.

AppFolio Company 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.