Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 225,720 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 225,720 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $32.21, for a total transaction of $7,270,441.20. Following the transaction, the insider now owns 7,853,441 shares in the company, valued at $252,959,334.61. The trade was a 2.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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 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 transaction of $7,253,522.25.
• On Wednesday, June 4th, Abdiel Capital Advisors, Lp sold 125,615 shares of Appian stock. The stock was sold at an average price of $31.80, for a total transaction of $3,994,557.00.
• 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 shares were sold at an average price of $31.43, for a total value of $1,176,644.91.
• On Friday, May 30th, Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock. The stock was 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 shares were 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 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 shares were 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 transaction of $4,830,000.00.

Appian Trading Up 1.2%

APPN stock opened at $32.18 on Friday. The stock has a market cap of $2.38 billion, a P/E ratio of -25.54 and a beta of 1.83. The stock’s fifty day simple moving average is $29.97 and its two-hundred day simple moving average is $32.63. Appian Co. has a 1-year low of $24.00 and a 1-year high of $43.33.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping 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 company had revenue of $166.43 million for the quarter, compared to the consensus estimate of $163.27 million. During the same period in the previous year, the firm earned ($0.24) EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, analysts forecast that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Appian

A number of hedge funds have recently modified their holdings of APPN. Barclays PLC increased its position in Appian by 285.9% in the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after buying an additional 53,172 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Appian during the 4th quarter worth $208,000. Handelsbanken Fonder AB increased its holdings in Appian by 14.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock worth $284,000 after acquiring an additional 1,100 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake 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 period. Finally, Versor Investments LP bought a new stake in Appian in the 4th quarter valued at about $574,000. Institutional investors own 52.70% of the company’s stock.

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.