Abdiel Capital Advisors, Lp Sells 33,000 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 33,000 shares of Appian stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $27.11, for a total value of $894,630.00. Following the completion of the sale, the insider now owns 9,802,219 shares of the company’s stock, valued at approximately $265,738,157.09. The trade was a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock 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 16th, Abdiel Capital Advisors, Lp sold 5,103 shares of Appian stock. The shares were sold at an average price of $27.02, for a total transaction of $137,883.06.
• 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 Wednesday, April 9th, Abdiel Capital Advisors, Lp sold 34,943 shares of Appian stock. The stock was sold at an average price of $28.08, for a total transaction of $981,199.44.
• 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.
• 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 value of $1,711,422.00.

Appian Price Performance

Shares of APPN stock opened at $26.92 on Thursday. The firm has a 50-day moving average of $30.48 and a 200-day moving average of $33.59. Appian Co. has a one year low of $24.00 and a one year high of $43.33. The company has a market cap of $1.99 billion, a P/E ratio of -21.37 and a beta of 1.78.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate 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 quarter last year, the business posted $0.06 EPS. The company’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts expect that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Appian

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. DA Davidson lowered their price objective on shares of Appian from $40.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday. Morgan Stanley reduced their price objective on shares of Appian from $35.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Scotiabank initiated coverage on shares of Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Appian currently has a consensus rating of “Hold” and an average target price of $35.17.

About Appian

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.