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

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the sale, the insider now directly owns 9,942,140 shares of the company’s stock, valued at $263,367,288.60. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major 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 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 Stock Performance

Appian stock opened at $26.40 on Friday. Appian Co. has a fifty-two week low of $25.77 and a fifty-two week high of $43.33. The company has a market capitalization of $1.95 billion, a PE ratio of -20.95 and a beta of 1.78. The company has a 50 day moving average price of $32.07 and a 200-day moving average price of $34.06.

Appian (NASDAQ:APPN) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. Appian’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. On average, analysts forecast that Appian Co. will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Appian

Large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership purchased a new position in Appian during the fourth quarter valued at approximately $4,918,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Appian by 184.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company’s stock valued at $6,637,000 after acquiring an additional 130,606 shares during the period. JPMorgan Chase & Co. raised its position in shares of Appian by 418.8% in the 4th quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company’s stock worth $5,303,000 after acquiring an additional 129,800 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in shares of Appian by 222.6% during the 4th quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company’s stock worth $6,034,000 after purchasing an additional 126,256 shares during the last quarter. Finally, Norges Bank bought a new stake in Appian during the fourth quarter valued at about $4,046,000. Institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on APPN shares. KeyCorp reissued a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. 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 objective for the company. Finally, Barclays upped their target price on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.80.

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.