GW&K Investment Management Reduces Stake in AppFolio

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GW&K Investment Management LLC, a Boston-based investment firm, reduced its stake in AppFolio, Inc. (NASDAQ:APPF) by 13.3% during the third quarter of 2025, according to a recent SEC filing. The firm sold 22,004 shares of the property management software company, leaving it with 143,403 shares worth approximately $39.5 million.

Why it matters

AppFolio is a leading provider of cloud-based software solutions for the property management and legal industries. The company's stock has seen significant volatility in recent quarters, with shares trading between $161 and $326 over the past year. This sale by a major institutional investor could signal broader concerns about the company's growth prospects or valuation.

The details

According to the SEC filing, GW&K Investment Management sold the 22,004 shares of AppFolio during the third quarter of 2025. This reduced the firm's total position in the company to 143,403 shares, or approximately 0.40% of AppFolio's outstanding stock. The shares were sold at an average price of $275.87, generating proceeds of around $6.1 million for GW&K.

• GW&K Investment Management sold the 22,004 shares of AppFolio during the third quarter of 2025.