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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 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 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 stock was 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 Trading Down 1.3 %

Appian stock opened at $26.56 on Friday. Appian Co. has a 52 week low of $24.00 and a 52 week high of $43.33. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -21.08 and a beta of 1.78. The company’s 50-day moving average price is $30.34 and its two-hundred day moving average price is $33.54.

Appian (NASDAQ:APPN) last announced its 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). The firm had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. Appian’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. Research analysts expect that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its holdings in Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock valued at $270,000 after acquiring an additional 400 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Appian during the fourth quarter worth approximately $35,000. Handelsbanken Fonder AB grew its position in Appian by 14.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock worth $284,000 after buying an additional 1,100 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Appian by 8.0% in the fourth quarter. MetLife Investment Management LLC now owns 24,325 shares of the company’s stock valued at $802,000 after buying an additional 1,809 shares in the last quarter. Institutional investors own 52.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on APPN. KeyCorp restated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Scotiabank started coverage on shares of Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target for the company. DA Davidson cut their price objective on shares of Appian from $40.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Morgan Stanley decreased 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.