Insider Selling: Appian Co. (NASDAQ:APPN) Major Shareholder Sells 57,975 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $29.52, for a total value of $1,711,422.00. Following the completion of the sale, the insider now directly owns 10,121,563 shares of the company’s stock, valued at $298,788,539.76. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major 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 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 value of $2,080,206.72.

Appian Stock Down 5.5 %

APPN traded down $1.55 on Friday, reaching $26.40. 873,823 shares of the company traded hands, compared to its average volume of 544,089. The company has a market cap of $1.95 billion, a P/E ratio of -20.95 and a beta of 1.78. The firm has a fifty day simple moving average of $32.07 and a two-hundred day simple moving average of $34.06. Appian Co. has a one year low of $25.69 and a one year high of $43.33.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS. On average, equities analysts forecast that Appian Co. will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

APPN has been the topic of several recent analyst reports. KeyCorp reissued a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Barclays increased their price objective on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. Finally, Scotiabank initiated coverage on Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Appian currently has an average rating of “Hold” and an average price target of $37.80.

Hedge Funds Weigh In On Appian

Several institutional investors have recently made changes to their positions in APPN. Point72 Hong Kong Ltd bought a new position in Appian during the 4th quarter worth about $35,000. 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. Russell Investments Group Ltd. boosted its stake in shares of Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after purchasing an additional 3,498 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Appian during the fourth quarter valued at approximately $181,000. Finally, FMR LLC lifted its holdings in Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after buying an additional 3,953 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.