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 business’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $27.02, for a total transaction of $137,883.06. Following the sale, the insider now owns 9,755,116 shares of the company’s stock, 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 SEC, which can be accessed through this link. 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 Monday, April 14th, Abdiel Capital Advisors, Lp sold 33,000 shares of Appian stock. The stock was 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 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 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 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 traded down $0.51 during mid-day trading on Wednesday, hitting $26.92. The company had a trading volume of 525,452 shares, compared to its average volume of 547,936. The stock’s 50 day moving average price is $30.61 and its 200-day moving average price is $33.64. Appian Co. has a 52-week low of $24.00 and a 52-week high of $43.33. The company has a market capitalization of $1.99 billion, a P/E ratio of -21.37 and a beta of 1.78.

Appian (NASDAQ:APPN) last announced its quarterly earnings results 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 return on equity of 532.05% and a negative net margin of 14.95%. The company had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $164.31 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts expect that Appian Co. will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Appian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Appian by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company’s stock worth $165,839,000 after acquiring an additional 23,890 shares during the last quarter. Lead Edge Capital Management LLC grew its holdings in shares of Appian by 5.7% in the fourth quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company’s stock valued at $50,396,000 after purchasing an additional 83,000 shares in the last quarter. First Trust Advisors LP increased its position in Appian by 7.1% in the fourth quarter. First Trust Advisors LP now owns 1,263,405 shares of the company’s stock worth $41,667,000 after purchasing an additional 83,708 shares during the last quarter. Geode Capital Management LLC increased its position in Appian by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock worth $32,071,000 after purchasing an additional 14,710 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in Appian by 19.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 658,654 shares of the company’s stock valued at $21,722,000 after purchasing an additional 106,023 shares in the last quarter. 52.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.