Jennison Associates LLC Has $20.77 Million Stake in AppFolio, Inc. $APPF

Jennison Associates LLC lifted its position in shares of AppFolio, Inc. (NASDAQ:APPF) by 47.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,171 shares of the software maker’s stock after acquiring an additional 28,986 shares during the quarter. Jennison Associates LLC owned approximately 0.25% of AppFolio worth $20,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D lifted its holdings in AppFolio by 0.5% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 9,041 shares of the software maker’s stock worth $2,082,000 after buying an additional 44 shares during the period. Woodline Partners LP lifted its holdings in AppFolio by 2.9% during the 1st quarter. Woodline Partners LP now owns 1,754 shares of the software maker’s stock worth $386,000 after buying an additional 50 shares during the period. Somerset Trust Co lifted its holdings in AppFolio by 6.7% during the 2nd quarter. Somerset Trust Co now owns 1,105 shares of the software maker’s stock worth $254,000 after buying an additional 69 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AppFolio by 23.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 384 shares of the software maker’s stock worth $84,000 after buying an additional 73 shares during the period. Finally, Deutsche Bank AG lifted its holdings in AppFolio by 3.3% during the 1st quarter. Deutsche Bank AG now owns 2,362 shares of the software maker’s stock worth $519,000 after buying an additional 75 shares during the period. 85.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Maurice J. Duca sold 3,100 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $321.38, for a total transaction of $996,278.00. Following the transaction, the insider directly owned 42,400 shares of the company’s stock, valued at approximately $13,626,512. This represents a 6.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Shane Trigg sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $276.95, for a total value of $1,107,800.00. Following the transaction, the chief executive officer directly owned 59,556 shares in the company, valued at approximately $16,494,034.20. This trade represents a 6.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 50,203 shares of company stock worth $14,382,536. 4.68% of the stock is owned by company insiders.

AppFolio Price Performance

APPF stock opened at $254.43 on Friday. The stock has a market capitalization of $9.12 billion, a PE ratio of 45.68 and a beta of 0.83. The company’s 50-day moving average is $260.29 and its 200-day moving average is $244.73. AppFolio, Inc. has a 1 year low of $190.24 and a 1 year high of $326.04.

AppFolio (NASDAQ:APPF) last released its quarterly earnings data on Thursday, October 30th. The software maker reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.14). AppFolio had a return on equity of 26.24% and a net margin of 22.48%.The company had revenue of $249.35 million for the quarter, compared to the consensus estimate of $245.39 million. During the same period last year, the company earned $1.29 EPS. AppFolio’s revenue for the quarter was up 21.2% compared to the same quarter last year. AppFolio has set its FY 2025 guidance at EPS. On average, analysts anticipate that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on APPF shares. Piper Sandler raised AppFolio from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $240.00 to $350.00 in a report on Friday, August 1st. Keefe, Bruyette & Woods raised AppFolio from a “market perform” rating to an “outperform” rating and set a $311.00 target price on the stock in a report on Friday, October 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of AppFolio in a research note on Wednesday, October 8th. DA Davidson dropped their price objective on AppFolio from $375.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday. Finally, KeyCorp dropped their price objective on AppFolio from $285.00 to $270.00 and set an “overweight” rating on the stock in a research note on Friday. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, AppFolio has an average rating of “Buy” and an average price target of $310.20.

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.