Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 125,615 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 125,615 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $31.80, for a total value of $3,994,557.00. Following the completion of the transaction, the insider now directly owns 8,304,776 shares of the company’s stock, valued at approximately $264,091,876.80. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, June 6th, Abdiel Capital Advisors, Lp sold 225,720 shares of Appian stock. The shares were sold at an average price of $32.21, for a total transaction of $7,270,441.20.
• On Thursday, June 5th, Abdiel Capital Advisors, Lp sold 225,615 shares of Appian stock. The shares were sold at an average price of $32.15, for a total value of $7,253,522.25.
• On Tuesday, June 3rd, Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock. The stock was sold at an average price of $31.83, for a total value of $9,549,000.00.
• On Monday, June 2nd, Abdiel Capital Advisors, Lp sold 37,437 shares of Appian stock. The stock was sold at an average price of $31.43, for a total transaction of $1,176,644.91.
• On Friday, May 30th, Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock. The shares were sold at an average price of $31.47, for a total value of $9,441,000.00.
• On Thursday, May 29th, Abdiel Capital Advisors, Lp sold 53,337 shares of Appian stock. The stock was sold at an average price of $31.45, for a total transaction of $1,677,448.65.
• On Wednesday, May 28th, Abdiel Capital Advisors, Lp sold 4,670 shares of Appian stock. The shares were 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 shares were sold at an average price of $32.01, for a total value of $44,814.00.
• On Tuesday, May 20th, Abdiel Capital Advisors, Lp sold 150,000 shares of Appian stock. The stock was sold at an average price of $32.20, for a total value of $4,830,000.00.

Appian Price Performance

Shares of NASDAQ APPN opened at $32.18 on Friday. The business has a 50-day moving average of $29.97 and a 200-day moving average of $32.63. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -25.54 and a beta of 1.83. Appian Co. has a fifty-two week low of $24.00 and a fifty-two week high of $43.33.

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

Hedge Funds Weigh In On Appian

Several institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its position in Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after acquiring an additional 53,172 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Appian in the fourth quarter valued at about $208,000. Handelsbanken Fonder AB grew its stake in Appian by 14.7% during 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 in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Appian by 5.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock worth $270,000 after acquiring an additional 400 shares during the period. Finally, Versor Investments LP bought a new stake in Appian during the fourth quarter worth $574,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Scotiabank cut 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. DA Davidson upped their price objective on shares of Appian from $28.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Morgan Stanley raised their price target on Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Barclays increased their target price on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research note on Friday, May 9th. Finally, Citigroup lifted their price target on shares of Appian from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.