AppFolio, Inc. (NASDAQ:APPF) Shares Bought by Jennison Associates LLC

Jennison Associates LLC grew its holdings in AppFolio, Inc. (NASDAQ:APPF) by 4.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 89,417 shares of the software maker’s stock after buying an additional 3,943 shares during the period. Jennison Associates LLC owned 0.25% of AppFolio worth $21,049,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Squarepoint Ops LLC increased its holdings in shares of AppFolio by 188.2% in the second quarter. Squarepoint Ops LLC now owns 185,034 shares of the software maker’s stock valued at $45,254,000 after purchasing an additional 120,835 shares during the period. Westwind Capital lifted its stake in shares of AppFolio by 301.0% in the second 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 during the period. Los Angeles Capital Management LLC grew its position in AppFolio by 516.6% during the second quarter. Los Angeles Capital Management LLC now owns 109,850 shares of the software maker’s stock worth $26,866,000 after buying an additional 92,034 shares during the period. Vanguard Group Inc. increased its holdings in AppFolio by 3.6% in the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker’s stock valued at $531,139,000 after buying an additional 73,965 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in AppFolio in the second quarter valued at about $12,993,000. Hedge funds and other institutional investors own 62.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler lowered their price target on AppFolio from $300.00 to $265.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. DA Davidson raised their price target on AppFolio from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $300.00 price target on shares of AppFolio in a research note on Friday, July 26th. Keefe, Bruyette & Woods cut shares of AppFolio from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $255.00 to $193.00 in a research note on Tuesday, October 15th. Finally, StockNews.com cut shares of AppFolio from a “buy” rating to a “hold” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AppFolio presently has a consensus rating of “Moderate Buy” and an average price target of $261.75.

Insider Transactions at AppFolio

In other news, major shareholder Maurice J. Duca sold 500 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $232.59, for a total transaction of $116,295.00. Following the transaction, the insider now directly owns 22,997 shares in the company, valued at $5,348,872.23. This represents a 2.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew S. Mazza sold 5,090 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total transaction of $1,202,461.60. Following the completion of the sale, the insider now directly owns 28,266 shares in the company, valued at $6,677,559.84. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,865 shares of company stock worth $5,799,618 over the last quarter. 5.24% of the stock is currently owned by insiders.

AppFolio Trading Up 2.4 %

Shares of APPF stock opened at $242.39 on Friday. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 67.52 and a beta of 0.83. The firm has a 50-day moving average price of $222.54 and a 200 day moving average price of $231.07. AppFolio, Inc. has a twelve month low of $164.29 and a twelve month high of $274.56.

AppFolio (NASDAQ:APPF) last announced its quarterly earnings data on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million for the quarter, compared to the consensus estimate of $199.11 million. AppFolio had a net margin of 17.26% and a return on equity of 30.64%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 earnings per share. As a group, research analysts predict that AppFolio, Inc. will post 3.23 earnings per share 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.