Jennison Associates LLC Buys 28,986 Shares of AppFolio, Inc. $APPF

Jennison Associates LLC grew its stake in shares of AppFolio, Inc. (NASDAQ:APPF) by 47.4% in the second quarter, HoldingsChannel.com reports. The firm owned 90,171 shares of the software maker’s stock after purchasing an additional 28,986 shares during the period. Jennison Associates LLC’s holdings in AppFolio were worth $20,765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in AppFolio during the 1st quarter worth approximately $55,000. GAMMA Investing LLC increased its holdings in AppFolio by 110.1% during the 1st quarter. GAMMA Investing LLC now owns 353 shares of the software maker’s stock worth $78,000 after purchasing an additional 185 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 purchasing an additional 73 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in AppFolio during the 2nd quarter worth approximately $90,000. Finally, Reyes Financial Architecture Inc. bought a new stake in AppFolio during the 2nd quarter worth approximately $96,000. 85.19% of the stock is owned by institutional investors.

Insider Activity at AppFolio

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 value of $996,278.00. Following the transaction, the insider owned 42,400 shares in the company, valued at approximately $13,626,512. This represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Shane Trigg sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $276.95, for a total value of $1,107,800.00. Following the completion of the transaction, the chief executive officer owned 59,556 shares in the company, valued at approximately $16,494,034.20. The trade was a 6.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 50,203 shares of company stock worth $14,382,536. 4.68% of the stock is owned by company insiders.

AppFolio Trading Up 7.9%

AppFolio stock opened at $254.43 on Friday. AppFolio, Inc. has a 12 month low of $190.24 and a 12 month high of $326.04. The business’s 50 day simple moving average is $260.29 and its 200 day simple moving average is $244.73. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 45.68 and a beta of 0.83.

AppFolio (NASDAQ:APPF) last posted its quarterly earnings data on Thursday, October 30th. The software maker reported $1.31 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.14). AppFolio had a net margin of 22.48% and a return on equity of 26.24%. The firm had revenue of $249.35 million during the quarter, compared to analysts’ expectations of $245.39 million. During the same quarter in the previous year, the company posted $1.29 EPS. AppFolio’s revenue for the quarter was up 21.2% on a year-over-year basis. AppFolio has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that AppFolio, Inc. will post 3.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.