Jennison Associates LLC Acquires 925 Shares of AppFolio, Inc. (NASDAQ:APPF)

Jennison Associates LLC increased its stake in AppFolio, Inc. (NASDAQ:APPF) by 45.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,963 shares of the software maker’s stock after buying an additional 925 shares during the period. Jennison Associates LLC’s holdings in AppFolio were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI grew its stake in shares of AppFolio by 70.4% in the third quarter. Arcadia Investment Management Corp MI now owns 138 shares of the software maker’s stock worth $25,000 after acquiring an additional 57 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in AppFolio during the 4th quarter valued at about $85,000. First Foundation Advisors purchased a new position in AppFolio in the third quarter worth about $209,000. Handelsinvest Investeringsforvaltning bought a new position in shares of AppFolio in the fourth quarter worth approximately $240,000. Finally, Pathstone Family Office LLC purchased a new stake in shares of AppFolio during the third quarter valued at approximately $260,000. Institutional investors own 62.34% of the company’s stock.

AppFolio Trading Up 12.0 %

APPF opened at $242.75 on Monday. The company’s 50 day moving average is $229.59 and its 200 day moving average is $205.22. The company has a market cap of $8.71 billion, a price-to-earnings ratio of 117.27 and a beta of 0.80. AppFolio, Inc. has a 12-month low of $123.36 and a 12-month high of $256.73.

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Blottnitz Andreas Von sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the completion of the transaction, the director now directly owns 5,449 shares in the company, valued at approximately $1,234,525.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Olivia Nottebohm sold 989 shares of AppFolio stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $241.75, for a total transaction of $239,090.75. Following the sale, the director now owns 1,909 shares of the company’s stock, valued at approximately $461,500.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Blottnitz Andreas Von sold 4,500 shares of AppFolio stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $226.56, for a total transaction of $1,019,520.00. Following the sale, the director now owns 5,449 shares in the company, valued at approximately $1,234,525.44. The disclosure for this sale can be found here. Insiders sold a total of 15,489 shares of company stock worth $3,531,011 over the last quarter. 9.15% of the stock is currently owned by corporate insiders.

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.