Jennison Associates LLC Raises Stock Position in AppFolio, Inc. (NASDAQ:APPF)

Jennison Associates LLC boosted its stake in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,417 shares of the software maker's stock after purchasing an additional 3,943 shares during the period. Jennison Associates LLC owned about 0.25% of AppFolio worth $21,049,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. US Bancorp DE lifted its stake in shares of AppFolio by 200.8% in the first quarter. US Bancorp DE now owns 1,444 shares of the software maker's stock worth $356,000 after acquiring an additional 964 shares during the period. Vanguard Group Inc. boosted its position in AppFolio by 3.6% during the first quarter. Vanguard Group Inc. now owns 2,152,626 shares of the software maker's stock valued at $531,139,000 after acquiring an additional 73,965 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in AppFolio by 11.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 41,488 shares of the software maker's stock worth $10,243,000 after acquiring an additional 4,131 shares during the period. Axxcess Wealth Management LLC acquired a new position in shares of AppFolio in the 1st quarter valued at about $207,000. Finally, Advisors Asset Management Inc. boosted its position in shares of AppFolio by 291.3% during the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker's stock valued at $44,000 after purchasing an additional 134 shares in the last quarter. 62.34% of the stock is owned by institutional investors.

Insider Activity at AppFolio

In related news, insider Matthew S. Mazza sold 5,090 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $236.24, for a total value of $1,202,461.60. Following the transaction, the insider now owns 28,266 shares of the company's stock, valued at $6,677,559.84. This represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Maurice J. Duca sold 2,968 shares of AppFolio stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $234.87, for a total value of $697,094.16. Following the sale, the insider now directly owns 24,500 shares of the company's stock, valued at approximately $5,754,315. This trade represents a 10.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,865 shares of company stock valued at $5,799,618. Company insiders own 5.24% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on APPF shares. Keefe, Bruyette & Woods downgraded shares of AppFolio from a "market perform" rating to an "underperform" rating and dropped their target price for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. DA Davidson boosted their price target 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. KeyCorp dropped their price objective on shares of AppFolio from $300.00 to $252.00 and set an "overweight" rating on the stock in a research note on Friday, October 25th. Piper Sandler Companies reissued an "overweight" rating and issued a $300.00 price objective on shares of AppFolio in a research note on Friday, July 26th. Finally, StockNews.com cut AppFolio from a "buy" rating to a "hold" rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $261.75.

AppFolio Price Performance

Shares of AppFolio stock traded up $5.66 on Friday, reaching $242.39. 195,553 shares of the company traded hands, compared to its average volume of 238,626. The firm has a market capitalization of $8.81 billion, a PE ratio of 67.52 and a beta of 0.83. AppFolio, Inc. has a 52 week low of $164.29 and a 52 week high of $274.56. The company has a 50 day moving average of $222.54 and a 200 day moving average of $231.07.

AppFolio (NASDAQ:APPF - Get Free Report) last issued its earnings results on Thursday, October 24th. The software maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.03 by $0.26. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. The business had revenue of $206.00 million during the quarter, compared to the consensus estimate of $199.11 million. During the same quarter last year, the company earned $0.26 EPS. The firm's revenue was up 24.5% compared to the same quarter last year. As a group, analysts anticipate that AppFolio, Inc. will post 3.23 earnings per share for the current year.

About AppFolio

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.