Abdiel Capital Advisors, Lp Sells 34,943 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 34,943 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $28.08, for a total value of $981,199.44. Following the transaction, the insider now directly owns 9,907,197 shares of the company’s stock, valued at approximately $278,194,091.76. The trade was a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 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 11th, Abdiel Capital Advisors, Lp sold 29,971 shares of Appian stock. The stock was sold at an average price of $27.04, for a total transaction of $810,415.84.
• 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 transaction of $2,080,206.72.
• On Wednesday, April 2nd, Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock. The stock was sold at an average price of $29.52, for a total transaction of $1,711,422.00.

Appian Trading Down 0.8 %

APPN opened at $27.02 on Friday. The firm has a market capitalization of $2.00 billion, a PE ratio of -21.44 and a beta of 1.78. Appian Co. has a twelve month low of $24.00 and a twelve month high of $43.33. The firm’s 50-day moving average price is $30.90 and its 200 day moving average price is $33.75.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) 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 company had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $164.31 million. During the same quarter last year, the company earned $0.06 earnings per share. Appian’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, analysts predict that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd purchased a new position in Appian during the fourth quarter worth about $35,000. Canada Pension Plan Investment Board raised its position in shares of Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after buying an additional 500 shares during the period. Russell Investments Group Ltd. lifted its holdings in Appian by 1,244.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after acquiring an additional 3,498 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Appian in the fourth quarter worth approximately $181,000. Finally, FMR LLC increased its stake in Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after acquiring an additional 3,953 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analyst Ratings Changes

APPN has been the topic of a number of research reports. Scotiabank began coverage on shares of Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target on the stock. KeyCorp restated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.80.

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.