Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 5,103 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of the company’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $27.02, for a total value of $137,883.06. Following the completion of the sale, the insider now owns 9,755,116 shares in the company, valued at $263,583,234.32. This trade represents a 0.05 % 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 hyperlink. 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 Monday, April 14th, Abdiel Capital Advisors, Lp sold 33,000 shares of Appian stock. The shares were sold at an average price of $27.11, for a total transaction of $894,630.00.
• 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 value of $981,199.44.
• On Friday, April 4th, Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock. The stock was 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 shares were sold at an average price of $29.52, for a total value of $1,711,422.00.

Appian Stock Performance

APPN opened at $26.92 on Thursday. The company has a fifty day moving average price of $30.48 and a two-hundred day moving average price of $33.59. The firm has a market capitalization of $1.99 billion, a PE ratio of -21.37 and a beta of 1.78. Appian Co. has a 52 week low of $24.00 and a 52 week high of $43.33.

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

Analyst Ratings Changes

APPN has been the subject of several research reports. Scotiabank began coverage on shares of 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 reissued a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Morgan Stanley reduced their price objective on Appian from $35.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, DA Davidson lowered their target price on Appian from $40.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.17.

Institutional Trading of Appian

Hedge funds have recently modified their holdings of the company. Stanley Laman Group Ltd. increased its stake in Appian by 11.1% in the first quarter. Stanley Laman Group Ltd. now owns 158,675 shares of the company’s stock valued at $4,571,000 after purchasing an additional 15,815 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Appian by 165.5% in the 1st quarter. SG Americas Securities LLC now owns 15,809 shares of the company’s stock valued at $455,000 after buying an additional 9,855 shares during the period. Rhumbline Advisers increased its position in shares of Appian by 4.4% in the 1st quarter. Rhumbline Advisers now owns 60,088 shares of the company’s stock valued at $1,731,000 after buying an additional 2,528 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Appian by 2,716.2% in the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company’s stock valued at $1,800,000 after buying an additional 6,030 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 buying an additional 7,594 shares during the period. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.