The insider selling is too small relative to market cap to be a standalone signal. However, the cross-filing context shows a larger 20-trade cluster ($1.9M) in the same period, which amplifies the pattern. Monitor for any negative pre-announcement or guidance revision in the next 30 days. If the selling accelerates or is followed by a Form 144 filing from C-suite, reassess.
Price Chart
Executive Summary
A cluster of insider selling at AppFolio over a 7-day window totaling $343K, led by 10% owner Maurice Duca and General Counsel Evan Pickering. While the dollar amount is trivial relative to the $7.2B market cap (<0.005%), the cluster involves multiple senior insiders and is amplified by the cross-filing context of a larger 20-trade cluster in the same period. The selling is likely liquidity-driven given the small size, but the pattern warrants monitoring for any upcoming negative catalyst.
Key Financial Metrics
Key Facts
- Three insiders sold shares in a 7-day window: 10% owner Maurice Duca ($181K), General Counsel Evan Pickering ($133K), and Principal Accounting Officer Don Rigler ($29K).
- Total insider selling of $343K represents less than 0.005% of AppFolio's $7.2B market cap, well below the 0.1% threshold for materiality.
- The cluster is part of a broader 20-trade selling pattern over the last 7 days involving the same insiders, totaling approximately $1.9M in open-market sales.
- AppFolio has strong analyst consensus (94% bullish) and a 78% win rate on prior reports at T+20, suggesting the market has been resilient to insider selling patterns.
Financial Impact
Total insider selling of $343K, or ~0.005% of market cap, is economically trivial.
Risk Factors
- Insider selling could be a leading indicator of negative news if it accelerates materially beyond current levels.
- The cluster involves a 10% owner and General Counsel, which is more notable than rank-and-file selling.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-APPF-1786611792204 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 5w ago | Insider Cluster | $223.05 $209.84 | ▼ −5.92% | ▼ −7.16% | $202.97 (−9.00%) |
Aug 20, 2026 6w ago | Insider Cluster | $224.40 $214.63 | ▼ −4.35% | ▼ −4.07% | $202.97 (−9.55%) |
Aug 20, 2026 6w ago | Insider Cluster | $224.40 $214.63 | ▲ +4.35% | ▲ +4.07% | $202.97 (+9.55%) |
Aug 18, 2026 6w ago | Insider Cluster | $203.95 $221.17 | ▲ +8.44% | ▲ +9.75% | $202.97 (−0.48%) |
Aug 17, 2026 6w ago | Insider Cluster | $203.95 $221.17 | ▲ +8.44% | ▲ +9.75% | $202.97 (−0.48%) |
Aug 14, 2026 7w ago | Insider Cluster | $195.97 $225.95 | ▲ +15.30% | ▲ +17.28% | $202.97 (+3.57%) |
Aug 12, 2026 7w ago | Insider Cluster | $203.97 $208.48 | ▲ +2.21% | ▲ +3.96% | $202.97 (−0.49%) |
Aug 10, 2026 7w ago | Insider Cluster | $203.02 $205.65 | ▲ +1.30% | ▲ +2.35% | $202.97 (−0.02%) |
Aug 10, 2026 7w ago | Insider Cluster | $203.02 $205.65 | ▲ +1.30% | ▲ +2.35% | $202.97 (−0.02%) |
Aug 7, 2026 8w ago | Insider Cluster | $198.74 $214.28 | ▲ +7.82% | ▲ +8.22% | $202.97 (+2.13%) |
US Market Status
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