Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 53,337 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 53,337 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $31.45, for a total transaction of $1,677,448.65. Following the completion of the sale, the insider now owns 9,067,828 shares in the company, valued at approximately $285,183,190.60. The trade was a 0.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Abdiel Capital Advisors, Lp also recently made the following trade(s):

• On Wednesday, May 28th, Abdiel Capital Advisors, Lp sold 4,670 shares of Appian stock. The stock was sold at an average price of $31.51, for a total transaction of $147,151.70.
• On Tuesday, May 27th, Abdiel Capital Advisors, Lp sold 73,166 shares of Appian stock. The stock was sold at an average price of $31.71, for a total transaction of $2,320,093.86.
• On Wednesday, May 21st, Abdiel Capital Advisors, Lp sold 1,400 shares of Appian stock. The stock was sold at an average price of $32.01, for a total transaction of $44,814.00.
• On Tuesday, May 20th, Abdiel Capital Advisors, Lp sold 150,000 shares of Appian stock. The shares were sold at an average price of $32.20, for a total value of $4,830,000.00.
• On Friday, May 16th, Abdiel Capital Advisors, Lp sold 164,000 shares of Appian stock. The shares were sold at an average price of $32.66, for a total value of $5,356,240.00.
• On Thursday, May 15th, Abdiel Capital Advisors, Lp sold 100,665 shares of Appian stock. The stock was sold at an average price of $32.67, for a total value of $3,288,725.55.
• On Thursday, May 8th, Abdiel Capital Advisors, Lp sold 140,050 shares of Appian stock. The shares were sold at an average price of $31.96, for a total transaction of $4,475,998.00.
• On Wednesday, April 16th, Abdiel Capital Advisors, Lp sold 5,103 shares of Appian stock. The shares were sold at an average price of $27.02, for a total transaction of $137,883.06.
• 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 stock was sold at an average price of $27.04, for a total transaction of $810,415.84.

Appian Trading Up 0.3%

APPN opened at $31.31 on Friday. Appian Co. has a 12-month low of $24.00 and a 12-month high of $43.33. The business’s fifty day simple moving average is $29.78 and its 200-day simple moving average is $32.89. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -24.85 and a beta of 1.83.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business had revenue of $166.43 million for the quarter, compared to the consensus estimate of $163.27 million. During the same quarter in the prior year, the company earned ($0.24) EPS. The business’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Appian Co. will post -0.28 EPS for the current year.

Institutional Investors Weigh In On Appian

Several hedge funds have recently modified their holdings of the business. Chicago Partners Investment Group LLC lifted its position in shares of Appian by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 31,495 shares of the company’s stock worth $958,000 after purchasing an additional 368 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock worth $270,000 after purchasing an additional 400 shares during the period. Concord Wealth Partners lifted its position in shares of Appian by 21.7% in the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock worth $74,000 after purchasing an additional 461 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Appian by 27.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares during the period. Finally, Penserra Capital Management LLC lifted its position in shares of Appian by 6.3% in the 1st quarter. Penserra Capital Management LLC now owns 16,646 shares of the company’s stock worth $479,000 after purchasing an additional 989 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on APPN. DA Davidson increased their price objective on shares of Appian from $28.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Citigroup boosted their price objective on Appian from $40.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Scotiabank reduced their target price on Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 24th. Barclays lifted their target price on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research report on Friday, May 9th. Finally, Morgan Stanley upped their price target on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.29.

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.