Prudential Financial Inc. Acquires New Holdings in AppFolio Inc (APPF)

Prudential Financial Inc. purchased a new stake in shares of AppFolio Inc (NASDAQ:APPF) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 80,960 shares of the software maker’s stock, valued at approximately $3,882,000. Prudential Financial Inc. owned about 0.24% of AppFolio as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in APPF. Glynn Capital Management LLC bought a new position in AppFolio during the 2nd quarter valued at about $8,150,000. Laurion Capital Management LP bought a new position in AppFolio during the 2nd quarter valued at about $7,075,000. Arrowstreet Capital Limited Partnership bought a new position in AppFolio during the 2nd quarter valued at about $2,615,000. OxFORD Asset Management LLP bought a new position in AppFolio during the 2nd quarter valued at about $2,546,000. Finally, Vanguard Group Inc. raised its stake in shares of AppFolio by 25.3% in the first quarter. Vanguard Group Inc. now owns 386,278 shares of the software maker’s stock worth $10,507,000 after acquiring an additional 78,048 shares during the last quarter. 24.85% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of AppFolio from $38.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 14th. Zacks Investment Research raised shares of AppFolio from a “hold” rating to a “strong-buy” rating and set a $48.00 target price for the company in a research note on Thursday, November 9th. KeyCorp reaffirmed a “hold” rating on shares of AppFolio in a research note on Monday, November 6th. Finally, BidaskClub raised shares of AppFolio from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.00.

AppFolio Inc (APPF) opened at $41.55 on Friday. AppFolio Inc has a 12 month low of $21.63 and a 12 month high of $52.25. The firm has a market cap of $1,410.46, a PE ratio of 259.69 and a beta of 0.61.

AppFolio (NASDAQ:APPF) last issued its quarterly earnings results on Monday, November 6th. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. AppFolio had a net margin of 4.37% and a return on equity of 7.91%. The company had revenue of $37.90 million during the quarter, compared to analysts’ expectations of $36.16 million. The company’s quarterly revenue was up 34.6% on a year-over-year basis. equities analysts predict that AppFolio Inc will post 0.25 EPS for the current fiscal year.

In other news, Director Janet Kerr sold 1,576 shares of AppFolio stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $43.08, for a total transaction of $67,894.08. Following the completion of the sale, the director now owns 17,189 shares in the company, valued at approximately $740,502.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan Walker sold 30,000 shares of AppFolio stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $44.58, for a total transaction of $1,337,400.00. Following the sale, the insider now owns 1,554,025 shares of the company’s stock, valued at approximately $69,278,434.50. The disclosure for this sale can be found here. 44.77% of the stock is owned by insiders.

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About AppFolio

AppFolio, Inc is a provider of industry-specific, cloud-based software solutions for small and medium-sized businesses (SMBs) in the property management and legal industries. The Company’s mobile-optimized software solutions enable its customers to work at any time and from anywhere across multiple devices.

Institutional Ownership by Quarter for AppFolio (NASDAQ:APPF)

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