Jennison Associates LLC Grows Stock Holdings in AppFolio, Inc. (NASDAQ:APPF)

Jennison Associates LLC raised its holdings in AppFolio, Inc. (NASDAQ:APPF) by 45.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,963 shares of the software maker’s stock after acquiring an additional 925 shares during the period. Jennison Associates LLC’s holdings in AppFolio were worth $513,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Lord Abbett & CO. LLC acquired a new position in AppFolio in the third quarter valued at $33,062,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of AppFolio during the 3rd quarter valued at about $13,698,000. WCM Investment Management LLC purchased a new position in shares of AppFolio during the 4th quarter worth about $12,941,000. Fred Alger Management LLC boosted its position in shares of AppFolio by 12.2% in the third quarter. Fred Alger Management LLC now owns 572,007 shares of the software maker’s stock worth $104,466,000 after acquiring an additional 62,347 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in AppFolio by 490.8% in the third quarter. Federated Hermes Inc. now owns 74,191 shares of the software maker’s stock valued at $13,550,000 after purchasing an additional 61,633 shares during the period. Hedge funds and other institutional investors own 62.34% of the company’s stock.

AppFolio Stock Up 12.0 %

Shares of NASDAQ:APPF opened at $242.75 on Monday. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 117.27 and a beta of 0.80. The company has a 50 day moving average of $229.59 and a two-hundred day moving average of $205.22. AppFolio, Inc. has a 52-week low of $123.36 and a 52-week high of $256.73.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings data on Thursday, January 25th. The software maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.29. AppFolio had a net margin of 11.38% and a return on equity of 14.51%. The firm had revenue of $171.83 million for the quarter, compared to analyst estimates of $162.80 million. On average, equities analysts anticipate that AppFolio, Inc. will post 2.72 earnings per share for the current year.

Insider Buying and Selling

In other AppFolio news, Director Timothy K. Bliss sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $227.24, for a total transaction of $2,272,400.00. Following the completion of the sale, the director now owns 51,070 shares in the company, valued at approximately $11,605,146.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Olivia Nottebohm sold 989 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $241.75, for a total value of $239,090.75. Following the sale, the director now owns 1,909 shares in the company, valued at approximately $461,500.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy K. Bliss sold 10,000 shares of AppFolio stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $227.24, for a total value of $2,272,400.00. Following the completion of the transaction, the director now owns 51,070 shares of the company’s stock, valued at $11,605,146.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,489 shares of company stock worth $3,531,011. 9.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

APPF has been the topic of a number of research analyst reports. BTIG Research initiated coverage on shares of AppFolio in a report on Friday, January 19th. They issued a “buy” rating and a $215.00 price target on the stock. KeyCorp boosted their price target on AppFolio from $264.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday. Keefe, Bruyette & Woods raised their price objective on AppFolio from $215.00 to $238.00 and gave the stock a “market perform” rating in a report on Friday. Stephens reissued an “overweight” rating and set a $241.00 target price on shares of AppFolio in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on shares of AppFolio from $228.00 to $237.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

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.