APPFOLIO INC APPF
COM CL A · Common Stock · CUSIP 03783C100 · ISIN US03783C1009
Company that offers SaaS applications for vertical markets
- SectorTechnology
- IndustryServices-Prepackaged Software
- HeadquartersSanta Barbara, CA
- Founded2007
- Websiteappfolioinc.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($4.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $160.28. Options: 10 managers hold calls ($26.1m notional), 8 hold puts ($15.7m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 163 |
| Q4 2022 | 188 |
| Q1 2023 | 194 |
| Q2 2023 | 215 |
| Q3 2023 | 247 |
| Q4 2023 | 296 |
| Q1 2024 | 367 |
| Q2 2024 | 392 |
| Q3 2024 | 386 |
| Q4 2024 | 389 |
| Q1 2025 | 382 |
| Q2 2025 | 387 |
| Q3 2025 | 411 |
| Q4 2025 | 404 |
| Q1 2026 | 399 |
| Q2 2026 | 394 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 205 | 184 |
| Q4 2024 | 182 | 189 |
| Q1 2025 | 200 | 206 |
| Q2 2025 | 177 | 212 |
| Q3 2025 | 206 | 189 |
| Q4 2025 | 203 | 195 |
| Q1 2026 | 253 | 179 |
| Q2 2026 | 218 | 198 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $73.4m | $11.1m | 0.15 |
| Q4 2025 | $60.7m | $11.6m | 0.19 |
| Q1 2026 | $26.0m | $4.2m | 0.16 |
| Q2 2026 | $26.1m | $15.7m | 0.60 |
Biggest buyers
| LONDON CO OF VIRGINIA | New | +703.2k |
| NEUBERGER BERMAN GROUP LLC | Added | +392.7k |
| MORGAN STANLEY | Added | +274.5k |
| Invesco Ltd. | Added | +228.4k |
| WELLINGTON MANAGEMENT GROUP LLP | New | +224.9k |
| Lead Edge Capital Management, LLC | Added | +189.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +186.9k |
| JENNISON ASSOCIATES LLC | Added | +162.1k |
| JONES FINANCIAL COMPANIES LLLP | Added | +143.9k |
| NATIXIS ADVISORS, LLC | Added | +138.0k |
Biggest sellers
| JACOBS LEVY EQUITY MANAGEMENT, INC | Reduced | -340.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -150.4k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -108.3k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | Reduced | -102.6k |
| Fiera Capital Corp | Reduced | -94.2k |
| MARSHALL WACE, LLP | Reduced | -78.9k |
| Russell Investments Group, Ltd. | Reduced | -75.5k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -72.7k |
| CITADEL ADVISORS LLC | Sold out | -70.8k |
| Edgestream Partners, L.P. | Reduced | -64.1k |
Biggest calls
| GROUP ONE TRADING LLC | Unchanged | $12.2m76.0k shares |
| JANE STREET GROUP, LLC | Added | $4.2m26.5k shares |
| CITADEL ADVISORS LLC | Reduced | $4.2m25.9k shares |
| IMC-Chicago, LLC | Added | $2.1m12.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.7m10.7k shares |
| D. E. Shaw & Co., Inc. | Added | $881.9k5.5k shares |
| SIG BROKERAGE, LP | New | $481.1k3.0k shares |
| LPL Financial LLC | Unchanged | $304.7k1.9k shares |
| Walleye Trading LLC | Reduced | $32.1k200 shares |
| SIMPLEX TRADING, LLC | Reduced | $16.0k100 shares |
Biggest puts
| JANE STREET GROUP, LLC | Added | $6.5m40.5k shares |
| CITADEL ADVISORS LLC | Added | $4.5m28.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.5m15.3k shares |
| D. E. Shaw & Co., Inc. | New | $881.9k5.5k shares |
| IMC-Chicago, LLC | Added | $705.5k4.4k shares |
| SIG BROKERAGE, LP | New | $481.1k3.0k shares |
| Walleye Trading LLC | Reduced | $80.2k500 shares |
| SIMPLEX TRADING, LLC | New | $32.1k200 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| DUCA MAURICE J 13D · may seek influence filed 2026-08-13 | 21.2% |
| Schauser Klaus 13G · exempt (held before listing) filed 2025-11-14 | 11.1% |
| PRINCIPAL GLOBAL INVESTORS 13G · institution +1.3 pts · filed 2026-08-05 | 6.4% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-28 | 6.1% |
| Ashe Capital Management, LP 13G · institution +1.1 pts · filed 2025-08-14 | 5.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.0% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 4 | $9.9m | $8.6m |
| Q1 2025 | 1 | $2.9m | 2 | $974.6k | $974.6k |
| Q2 2025 | 2 | $5.6m | 3 | $2.5m | $1.2m |
| Q3 2025 | 0 | — | 4 | $3.6m | $1.5m |
| Q4 2025 | 0 | — | 3 | $1.1m | $1.0m |
| Q1 2026 | 0 | — | 1 | $1.2m | $1.2m |
| Q2 2026 | 0 | — | 5 | $1.4m | $1.1m |
| Q3 2026 | 0 | — | 4 | $752.1k | $752.1k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-21 | DUCA MAURICE J 10% owner · By Pension Trust | Sold plan | $539.5k2.4k shares |
| 2026-08-21 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $49.7k224 shares |
| 2026-08-20 | DUCA MAURICE J 10% owner · By Pension Trust | Sold plan | $1.2m5.6k shares |
| 2026-08-20 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $348.4k1.6k shares |
| 2026-08-19 | DUCA MAURICE J 10% owner · By Pension Trust | Sold plan | $1.2m5.6k shares |
| 2026-08-19 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $300.0k1.4k shares |
| 2026-08-19 | Eaton Timothy Mathias Chief Financial Officer | Sold plan | $75.6k373 shares |
| 2026-08-19 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $41.4k199 shares |
| 2026-08-18 | DUCA MAURICE J 10% owner · By Pension Trust | Sold plan | $1.1m5.6k shares |
| 2026-08-18 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $325.5k1.6k shares |
| 2026-08-18 | DUCA MAURICE J 10% owner | Sold plan | $133.6k657 shares |
| 2026-08-17 | DUCA MAURICE J 10% owner · By Pension Trust | Sold plan | $1.1m5.6k shares |
| 2026-08-17 | DUCA MAURICE J 10% owner | Sold plan | $685.6k3.5k shares |
| 2026-08-17 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $313.4k1.6k shares |
| 2026-08-14 | DUCA MAURICE J 10% owner · By Pension Trust | Sold plan | $1.1m5.6k shares |
| 2026-08-14 | DUCA MAURICE J 10% owner | Sold plan | $707.4k3.5k shares |
| 2026-08-14 | Trigg William Shane Chief Executive Officer, director | Sold plan | $421.7k2.1k shares |
| 2026-08-14 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $323.4k1.6k shares |
| 2026-08-13 | DUCA MAURICE J 10% owner · By Pension Trust | Sold plan | $1.1m5.6k shares |
| 2026-08-13 | DUCA MAURICE J 10% owner | Sold plan | $695.4k3.5k shares |
| 2026-08-13 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $219.0k1.1k shares |
| 2026-08-13 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $98.9k507 shares |
| 2026-08-12 | DUCA MAURICE J 10% owner · By Pension Trust | Sold plan | $1.1m5.6k shares |
| 2026-08-12 | DUCA MAURICE J 10% owner | Sold plan | $689.2k3.5k shares |
| 2026-08-12 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $315.1k1.6k shares |
| 2026-08-12 | Pickering Evan General Counsel | Sold plan | $64.4k322 shares |
| 2026-08-11 | DUCA MAURICE J 10% owner · By Pension Trust | Sold plan | $1.1m5.4k shares |
| 2026-08-11 | DUCA MAURICE J 10% owner | Sold plan | $703.4k3.5k shares |
| 2026-08-11 | DUCA MAURICE J 10% owner · By Family Trust | Sold plan | $321.6k1.6k shares |
| 2026-08-11 | DUCA MAURICE J 10% owner · By Pension Trust | Sold plan | $30.9k158 shares |
The latest 30 of 91 trades.
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 2.6m $424.3m | Added +98.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.13% of their portfolio | 1.6m $257.4m | Added +99.3k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.01% of their portfolio | 1.5m $238.9m | Added +4.7k |
| Ashe Capital Management, LP 18.04% of their portfolio | 1.0m $168.0m | Unchanged |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 1.0m $167.0m | Reduced -6.5k |
| STATE STREET CORP 0.00% of their portfolio | 766.1k $122.8m | Added +44.5k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.35% of their portfolio | 721.8k $115.7m | Added +78.6k |
| LONDON CO OF VIRGINIA 0.64% of their portfolio | 703.2k $112.8m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 700.4k $112.3m | Added +186.9k |
| Nellore Capital Management LLC 11.66% of their portfolio | 654.9k $105.0m | Added +18.6k |
| MORGAN STANLEY 0.00% of their portfolio | 581.8k $93.3m | Added +274.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 509.8k $81.8m | Added +3.5k |
| Lead Edge Capital Management, LLC 11.64% of their portfolio | 399.7k $64.1m | Added +189.4k |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 394.2k $63.2m | Added +392.7k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.18% of their portfolio | 351.8k $56.4m | Reduced -102.6k |
| Keenan Capital, LLC 10.61% of their portfolio | 334.6k $53.6m | Unchanged |
| Invesco Ltd. 0.00% of their portfolio | 334.1k $53.6m | Added +228.4k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 322.0k $51.6m | Added +25.4k |
| DF DENT & CO INC 0.97% of their portfolio | 319.0k $51.1m | Reduced -1.6k |
| LONG WALK MANAGEMENT LP 11.22% of their portfolio | 304.9k $48.9m | Added +100.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 297.1k $47.6m | Reduced -48.5k |
| Caledonia (Private) Investments Pty Ltd 1.59% of their portfolio | 290.5k $46.6m | Reduced -37.8k |
| Greenstone Partners & Co., LLC 10.14% of their portfolio | 273.6k $43.9m | Added +120 |
| NORTHERN TRUST CORP 0.01% of their portfolio | 269.6k $43.2m | Added +3.5k |
| FMR LLC 0.00% of their portfolio | 251.1k $40.3m | Added +122.6k |
| GILDER GAGNON HOWE & CO LLC 0.41% of their portfolio | 250.3k $40.1m | Reduced -15.1k |
| JENNISON ASSOCIATES LLC 0.02% of their portfolio | 238.2k $38.2m | Added +162.1k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio | 234.1k $37.5m | Reduced -150.4k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 224.9k $36.1m | New |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 185.8k $29.8m | Reduced -41.4k |
| JONES FINANCIAL COMPANIES LLLP 0.01% of their portfolio | 176.9k $27.5m | Added +143.9k |
| NATIXIS ADVISORS, LLC 0.03% of their portfolio | 172.2k $27.6m | Added +138.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 165.0k $26.5m | Added +383 |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 154.9k $24.8m | Added +1.4k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 146.7k $23.5m | Reduced -13.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 141.3k $22.7m | Added +45.2k |
| Caisse de depot et placement du Quebec 0.03% of their portfolio | 137.9k $22.1m | Reduced -14.6k |
| UBS Group AG 0.00% of their portfolio | 137.7k $22.1m | Added +37.6k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 128.7k $20.6m | Added +5.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 128.1k $20.5m | Reduced -2.2k |
| Fiera Capital Corp 0.07% of their portfolio | 126.1k $20.2m | Reduced -94.2k |
| GW&K Investment Management, LLC 0.16% of their portfolio | 125.2k $20.1m | Reduced -1.5k |
| FEDERATED HERMES, INC. 0.03% of their portfolio | 123.9k $19.9m | Added +121.6k |
| Sone Capital Management, LLC 1.42% of their portfolio | 116.3k $18.6m | Reduced -17.5k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 108.5k $17.4m | Added +56.1k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 108.1k $17.1m | Reduced -7 |
| Point72 Asset Management, L.P. 0.02% of their portfolio | 101.2k $16.2m | Added +82.0k |
| BROWN CAPITAL MANAGEMENT LLC 3.19% of their portfolio | 99.5k $16.0m | Reduced -8.6k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 97.6k $15.6m | Reduced -7.4k |
| NORGES BANK 0.00% of their portfolio | 95.6k $15.3m | Not comparable |
| CROSSLINK CAPITAL INC 1.11% of their portfolio | 93.3k $15.0m | Added +21.9k |
| TenCore Partners, LP 11.02% of their portfolio | 88.3k $14.2m | Reduced -21.6k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 88.0k $14.1m | Added +17.9k |
| Langdon Equity Partners 7.62% of their portfolio | 85.0k $13.6m | Added +49.8k |
| HMI Capital Management, L.P. 1.75% of their portfolio | 75.0k $12.0m | New |
| Nuveen, LLC 0.00% of their portfolio | 73.3k $11.8m | Reduced -3.9k |
| Tensile Capital Management LP 1.62% of their portfolio | 73.0k $11.7m | Added +20.0k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 69.4k $11.1m | Reduced -72.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 66.1k $10.6m | Reduced -44.8k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 63.2k $10.1m | Reduced -1.1k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 62.3k $10.0m | Added +1.9k |
| LOOMIS SAYLES & CO L P 0.01% of their portfolio | 60.7k $9.7m | Reduced -1.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 58.2k $9.3m | Added +417 |
| ZEVENBERGEN CAPITAL INVESTMENTS LLC 0.21% of their portfolio | 57.3k $9.2m | Added +19.0k |
| Ranger Investment Management, L.P. 0.58% of their portfolio | 56.7k $9.1m | Reduced -41.9k |
| Gotham Asset Management, LLC 0.02% of their portfolio | 55.9k $9.0m | Added +37.8k |
| EULAV Asset Management 0.28% of their portfolio | 55.5k $8.9m | Added +11 |
| Quantinno Capital Management LP 0.01% of their portfolio | 53.0k $8.5m | Added +2.6k |
| RIVERBRIDGE PARTNERS LLC 0.23% of their portfolio | 50.8k $8.2m | Reduced -37.3k |
| ROYCE & ASSOCIATES LP 0.06% of their portfolio | 49.2k $7.9m | New |
| Granite Investment Partners, LLC 0.39% of their portfolio | 47.7k $7.7m | Reduced -1.0k |
| Atika Capital Management LLC 0.76% of their portfolio | 47.5k $7.6m | Unchanged |
| Swiss National Bank 0.00% of their portfolio | 46.4k $7.4m | Added +3.0k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 43.8k $7.0m | Reduced -75.5k |
| Creative Planning 0.00% of their portfolio | 40.3k $6.5m | Reduced -242 |
| Assenagon Asset Management S.A. 0.00% of their portfolio | 38.6k $6.2m | New |
| BLAIR WILLIAM & CO/IL 0.02% of their portfolio | 37.4k $6.0m | Reduced -13.2k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 35.6k $5.7m | Added +2.0k |
| Legal & General Group Plc 0.00% of their portfolio | 30.9k $4.9m | Added +418 |
| Squarepoint Ops LLC 0.01% of their portfolio | 30.4k $4.9m | Reduced -50.2k |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 28.2k $4.5m | Added +25.4k |
| Baker Avenue Asset Management, LP 0.08% of their portfolio | 27.4k $4.4m | Added +11.7k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 26.9k $4.2m | Added +519 |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.02% of their portfolio | 26.7k $4.3m | Reduced -340.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 26.3k $4.2m | Added +530 |
| XTX Topco Ltd 0.05% of their portfolio | 26.2k $4.2m | Reduced -15.4k |
| NORDEA INVESTMENT MANAGEMENT AB 0.00% of their portfolio | 26.2k $4.1m | Reduced -10.6k |
| Retirement Systems of Alabama 0.01% of their portfolio | 24.9k $4.0m | Reduced -5.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 23.9k $3.8m | Added +5.8k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 23.7k $3.8m | Added +4.2k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 22.8k $3.7m | Added +22.7k |
| Advisors Capital Management, LLC 0.03% of their portfolio | 20.2k $3.2m | Added +352 |
| Orion Porfolio Solutions, LLC 0.02% of their portfolio | 19.2k $3.1m | Added +6.9k |
| Davidson Kahn Capital Management, LLC 1.30% of their portfolio | 18.9k $3.0m | Added +1.2k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio | 18.9k $3.0m | Added +18.5k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 18.8k $3.0m | Reduced -715 |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.02% of their portfolio | 18.7k $3.0m | Added +4.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 18.4k $2.9m | Reduced -4.3k |
| Alamar Capital Management, LLC 1.46% of their portfolio | 17.9k $2.9m | Added +1.9k |
| AGF MANAGEMENT LTD 0.01% of their portfolio | 17.8k $2.9m | Reduced -3.3k |