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

Jennison Associates LLC lessened its stake in AppFolio, Inc. (NASDAQ:APPF) by 32.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,586 shares of the software maker’s stock after selling 28,831 shares during the quarter. Jennison Associates LLC owned about 0.17% of AppFolio worth $14,948,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning increased its stake in shares of AppFolio by 68.0% in the 2nd quarter. Creative Planning now owns 2,142 shares of the software maker’s stock valued at $524,000 after acquiring an additional 867 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in AppFolio by 688.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker’s stock valued at $52,000 after purchasing an additional 186 shares in the last quarter. Truist Financial Corp raised its holdings in AppFolio by 12.8% in the second quarter. Truist Financial Corp now owns 2,467 shares of the software maker’s stock worth $603,000 after purchasing an additional 280 shares during the period. Handelsbanken Fonder AB boosted its position in shares of AppFolio by 22.2% during the third quarter. Handelsbanken Fonder AB now owns 4,400 shares of the software maker’s stock worth $1,036,000 after purchasing an additional 800 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of AppFolio by 5,985.2% in the 3rd quarter. CWM LLC now owns 9,067 shares of the software maker’s stock valued at $2,134,000 after buying an additional 8,918 shares during the period. Institutional investors and hedge funds own 85.19% of the company’s stock.

Analyst Ratings Changes

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

AppFolio Stock Down 0.5 %

NASDAQ APPF opened at $230.59 on Thursday. The firm’s 50 day moving average is $252.61 and its 200-day moving average is $234.97. The company has a market capitalization of $8.38 billion, a PE ratio of 41.55 and a beta of 0.88. AppFolio, Inc. has a 12-month low of $189.01 and a 12-month high of $274.56.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Thursday, January 30th. The software maker reported $0.58 earnings per share (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%. As a group, sell-side analysts expect that AppFolio, Inc. will post 4.21 EPS for the current year.

Insider Activity at AppFolio

In other news, insider Matthew S. Mazza sold 926 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $229.04, for a total transaction of $212,091.04. Following the sale, the insider now owns 33,819 shares in the company, valued at $7,745,903.76. This represents a 2.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Maurice J. Duca sold 1,059 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $229.10, for a total value of $242,616.90. Following the transaction, the insider now directly owns 9,388 shares in the company, valued at approximately $2,150,790.80. This trade represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,606 shares of company stock valued at $5,958,832. Insiders own 5.24% of the company’s stock.

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.