Jennison Associates LLC Sells 28,831 Shares of AppFolio, Inc. (NASDAQ:APPF)

Jennison Associates LLC lessened its position in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 32.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,586 shares of the software maker's stock after selling 28,831 shares during the period. Jennison Associates LLC owned approximately 0.17% of AppFolio worth $14,948,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp increased its position in shares of AppFolio by 8.2% in the 3rd quarter. State Street Corp now owns 653,136 shares of the software maker's stock valued at $153,748,000 after buying an additional 49,238 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of AppFolio by 82.2% in the third quarter. Lord Abbett & CO. LLC now owns 459,285 shares of the software maker's stock worth $108,116,000 after acquiring an additional 207,204 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of AppFolio by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 413,032 shares of the software maker's stock valued at $97,252,000 after purchasing an additional 32,743 shares in the last quarter. DF Dent & Co. Inc. lifted its holdings in shares of AppFolio by 10.1% during the 3rd quarter. DF Dent & Co. Inc. now owns 351,691 shares of the software maker's stock valued at $82,788,000 after purchasing an additional 32,181 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of AppFolio by 31.2% in the 3rd quarter. Franklin Resources Inc. now owns 228,655 shares of the software maker's stock valued at $51,800,000 after purchasing an additional 54,386 shares during the period. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. William Blair restated an "outperform" rating on shares of AppFolio in a report on Friday, January 31st. Piper Sandler restated a "neutral" rating and set a $265.00 price objective on shares of AppFolio in a report on Friday, January 31st. Keefe, Bruyette & Woods cut shares of AppFolio from a "market perform" rating to an "underperform" rating and cut their price objective for the company from $255.00 to $193.00 in a research report on Tuesday, October 15th. KeyCorp cut AppFolio from an "overweight" rating to a "sector weight" rating and set a $253.00 target price for the company. in a report on Friday, January 10th. Finally, Stephens restated an "overweight" rating and issued a $295.00 price target on shares of AppFolio in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $276.29.

Insider Activity at AppFolio

In other news, insider Matthew S. Mazza sold 5,090 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 28,266 shares in the company, valued at $6,677,559.84. This trade represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Shane Trigg sold 3,500 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $229.85, for a total transaction of $804,475.00. Following the completion of the transaction, the chief executive officer now owns 74,327 shares in the company, valued at $17,084,060.95. This trade represents a 4.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,606 shares of company stock valued at $5,958,832 over the last ninety days. 5.24% of the stock is owned by corporate insiders.

AppFolio Stock Performance

Shares of APPF stock traded down $3.57 during midday trading on Friday, hitting $222.98. 362,041 shares of the company were exchanged, compared to its average volume of 319,856. The firm has a market capitalization of $8.10 billion, a P/E ratio of 40.18 and a beta of 0.88. AppFolio, Inc. has a 52 week low of $189.01 and a 52 week high of $274.56. The firm's 50 day moving average price is $251.43 and its two-hundred day moving average price is $234.34.

AppFolio (NASDAQ:APPF - Get Free Report) last released its earnings results on Thursday, January 30th. The software maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.34). AppFolio had a net margin of 25.69% and a return on equity of 26.21%. Analysts expect that AppFolio, Inc. will post 3.96 EPS 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.