AppFolio, Inc.
In the published model solve dated 2026-Q2, anchored at $234.49, AppFolio, Inc. (APPF) is priced for +40.8% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Value Added Services, not the software subscription, is the biggest line at about 76% of revenue against 22% for Subscription Services, and the FY2025 10-K notes that ⟦"A significant majority of our Value Added Services revenue comes from the use of our electronic payment services, tenant screening"⟧ and related products. • The whole thesis lives in one gap: units on the platform rose 8% in fiscal 2025 to 9.4 million while revenue rose 20%, so almost two-thirds of the increase came from chargi
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386 institutional managers reported holding APPF in 13F filings for the quarter ended 2026-03-31. Together they hold about 75% of the company; the top 10 hold 45%. 68 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 2.6M shares were sold short as of the 2026-06-15 count, about 7% of shares outstanding (6.9 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
APPF's share count grew 3.3% over the past five years even with $271.73M spent on repurchases. It pays no dividend. Cash returned over the past three years: $271.73M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at APPF over the trailing three years: 2025: 30 buys totaling $8.55M. 17 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
APPF's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-29 | +0.8% | +1.8% |
| 2023-10-28 | +6.6% | -7.8% |
| 2024-02-02 | +26.7% | +2.0% |
| 2024-04-27 | +12.4% | +0.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
APPF's latest 8-K filings: 2026-07-23 (items 2.02, 9.01); 2026-07-01 (items 5.02); 2026-06-15 (items 5.07); 2026-04-23 (items 2.02); 2026-04-10 (items 5.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.