Abdiel Capital Advisors, Lp Sells 78,528 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the completion of the transaction, the insider now directly owns 9,942,140 shares in the company, valued at approximately $263,367,288.60. The trade was a 0.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more 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 Wednesday, April 2nd, Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock. The shares were sold at an average price of $29.52, for a total transaction of $1,711,422.00.

Appian Price Performance

Shares of NASDAQ APPN opened at $26.40 on Friday. The firm’s 50 day simple moving average is $32.07 and its 200-day simple moving average is $34.07. Appian Co. has a 12 month low of $25.77 and a 12 month high of $43.33. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -20.95 and a beta of 1.78.

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

Wall Street Analysts Forecast Growth

APPN has been the subject of a number of recent analyst reports. Scotiabank initiated coverage on Appian in a research report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective for the company. KeyCorp reiterated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $37.80.

Hedge Funds Weigh In On Appian

A number of hedge funds have recently bought and sold shares of APPN. Vanguard Group Inc. raised its stake in shares of Appian by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company’s stock worth $165,839,000 after buying an additional 23,890 shares during the period. Lead Edge Capital Management LLC increased its holdings in Appian by 5.7% in the 4th quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company’s stock worth $50,396,000 after acquiring an additional 83,000 shares in the last quarter. First Trust Advisors LP raised its position in Appian by 7.1% during the fourth quarter. First Trust Advisors LP now owns 1,263,405 shares of the company’s stock worth $41,667,000 after acquiring an additional 83,708 shares during the period. Geode Capital Management LLC lifted its holdings in Appian by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock valued at $32,071,000 after purchasing an additional 14,710 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Appian by 19.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 658,654 shares of the company’s stock valued at $21,722,000 after purchasing an additional 106,023 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.