Appian (NASDAQ:APPN) Sets New 12-Month Low Following Insider Selling

Shares of Appian Co. (NASDAQ:APPN) hit a new 52-week low during trading on Friday after an insider sold shares in the company. The company traded as low as $26.12 and last traded at $26.34, with a volume of 102193 shares changing hands. The stock had previously closed at $27.95.

Specifically, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the sale, the insider now owns 9,942,140 shares of the company’s stock, valued at approximately $263,367,288.60. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total transaction of $1,711,422.00. Following the transaction, the insider now directly owns 10,121,563 shares in the company, valued at $298,788,539.76. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several research firms have weighed in on APPN. KeyCorp reiterated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Scotiabank assumed coverage on shares of Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Appian currently has a consensus rating of “Hold” and an average target price of $37.80.

Appian Stock Performance

The company has a market cap of $1.95 billion, a P/E ratio of -20.95 and a beta of 1.78. The stock has a 50 day moving average price of $32.07 and a 200 day moving average price of $34.07.

Appian (NASDAQ:APPN) last issued its quarterly 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). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. During the same quarter last year, the firm posted $0.06 earnings per share. Appian’s revenue was up 14.7% compared to the same quarter last year. As a group, equities research analysts predict that Appian Co. will post -0.28 earnings per share for the current year.

Institutional Trading of Appian

Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in shares of Appian during the 4th quarter valued at $35,000. Canada Pension Plan Investment Board grew its holdings 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 acquiring an additional 500 shares during the last quarter. Russell Investments Group Ltd. raised its position 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 worth $125,000 after purchasing an additional 3,498 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Appian during the fourth quarter valued at $181,000. Finally, FMR LLC boosted its position in shares of Appian by 199.4% in the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after purchasing an additional 3,953 shares during the period. 52.70% of the stock is currently owned by institutional investors.

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.