$1.21 million worth of stock was sold by the chief legal officer of Appfolio by Investing.com

Matthew S. Mazza, Chief Legal Officer Appfolio Inc . (NASDAQ: ), recently sold a significant portion of the company’s Class A common stock. According to a filing with the Securities and Exchange Commission, Mazza sold a total of 4,727 shares over two days on December 10 and 11, 2024. The sale comes as Appfolio, now valued at $9.48 billion, showed strong momentum with a 52% gain year to date.

On December 10, Mazza sold 700 shares at a weighted average price of $255.50 per share. The price for this transaction ranged from $255.11 to $256.04. The next day, he sold an additional 4,027 shares at various prices. On December 11, sales were made at weighted average prices of $256.70, $257.81 and $258.32, with a price range of $256.12 to $258.49. InvestingPro analysis shows that the stock is currently trading near its 52-week high, with technical indicators pointing to overbought conditions.

These transactions, carried out according to a pre-arranged trading plan, netted Mazza a total of approximately $1.21 million. Following this sale, he retains ownership of 23,539 shares of Appfolio. The company maintains an “EXCELLENT” financial health score according to InvestingProwhich offers comprehensive analysis including 15+ additional ProTips and detailed evaluation metrics in its Pro Research Paper Report.

In other recent news, AppFolio Inc. reported a strong financial performance in the third quarter of 2024, with revenue up 24% year-over-year to $206 million. The company’s non-GAAP operating margin also increased significantly to 28.7%. AppFolio increased its full-year revenue to between $786 million and $790 million, forecasting a growth rate of 27%.

Stephens, a financial services company, maintained its overweight rating on AppFolio, citing the company’s strong performance and potential for further growth. The company noted that despite the stock’s poor performance against the Russell index, its potential remains undiminished. Stevens also highlighted AppFolio’s significant margin improvement over the past two years and the potential for further expansion.

On the other hand, AppLovin (NASDAQ:) and The Trade Desk Inc . (NASDAQ: ) saw their shares fall after they were not included in the last rebalancing of the S&P 500 index. While this development may affect investor perception, it does not diminish the potential of these companies. These are recent developments regarding these companies and should be considered by investors.

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