An AppFolio executive sold $2.9 million in shares via a pre-arranged trading plan, reducing direct holdings to 38,662 shares.
AppFolio Inc. (NASDAQ:APPF) insider Maurice J. Duca sold 14,707 Class A shares on August 12 and 13 at a weighted average price of $197.28, totaling approximately $2.9 million. The transactions were executed under a Rule 10b5-1 trading plan adopted in March, allowing automated sales without regard to material non-public information.
Following the sales, Duca retains 38,662 shares directly, with an additional 84,849 shares held indirectly through a family trust and pension trust. The sale prices ranged from $193.95 to $206.52, compared to the August 13 closing price of $203.97. AppFolio, a cloud-based real estate platform, reported trailing twelve-month revenue of $1.0 billion and a one-year return of -24%.
The company has not disclosed any immediate market reaction to the insider activity.