Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 33,000 Shares of 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 sale, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 stock was sold at an average price of $27.02, for a total value of $137,883.06.
• On Friday, April 11th, Abdiel Capital Advisors, Lp sold 29,971 shares of Appian stock. The shares were 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 shares were 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 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 value of $1,711,422.00.

Appian Price Performance

Shares of Appian stock opened at $26.92 on Thursday. The company’s 50 day moving average price is $30.48 and its two-hundred day moving average price is $33.59. The firm has a market capitalization of $1.99 billion, a P/E ratio of -21.37 and a beta of 1.78. Appian Co. has a fifty-two week low of $24.00 and a fifty-two week high of $43.33.

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 the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $166.70 million for the quarter, compared to analyst estimates of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. On average, analysts expect that Appian Co. will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Appian

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on APPN shares. Scotiabank started coverage on Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price on the stock. KeyCorp reiterated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Morgan Stanley dropped their target price on shares of Appian from $35.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, DA Davidson reduced their price target on shares of Appian from $40.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Appian currently has an average rating of “Hold” and a consensus price target 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.