Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 57,975 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total value of $1,711,422.00. Following the sale, the insider now directly owns 10,121,563 shares of the company’s stock, valued at approximately $298,788,539.76. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Abdiel Capital Advisors, Lp also recently made the following trade(s):

• On Friday, April 4th, Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72.

Appian Stock Performance

APPN stock opened at $26.40 on Friday. The firm has a 50 day simple moving average of $32.07 and a 200 day simple moving average of $34.06. Appian Co. has a 52 week low of $25.77 and a 52 week high of $43.33. The stock has a market cap of $1.95 billion, a P/E ratio of -20.95 and a beta of 1.78.

Appian (NASDAQ:APPN) last issued its earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 earnings per share. Sell-side analysts predict that Appian Co. will post -0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on APPN. Barclays upped their price objective on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Scotiabank started coverage on shares of Appian in a research report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target for the company. Finally, KeyCorp reiterated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $37.80.

Institutional Trading of Appian

Institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Appian by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,836 shares of the company’s stock worth $2,897,000 after purchasing an additional 7,594 shares during the last quarter. Voloridge Investment Management LLC increased its position in Appian by 222.6% during the fourth quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company’s stock worth $6,034,000 after buying an additional 126,256 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Appian by 60.5% during the fourth quarter. Squarepoint Ops LLC now owns 25,546 shares of the company’s stock valued at $843,000 after buying an additional 9,630 shares in the last quarter. Twinbeech Capital LP acquired a new stake in shares of Appian in the fourth quarter worth about $2,403,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of Appian during the 4th quarter worth about $320,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Company Profile

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.