Insider Selling: Appian Co. (NASDAQ:APPN) Major Shareholder Sells 5,103 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of Appian stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $27.02, for a total value of $137,883.06. Following the completion of the sale, the insider now directly owns 9,755,116 shares in the company, valued at $263,583,234.32. This represents a 0.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large 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 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 value 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.
• On Wednesday, April 9th, Abdiel Capital Advisors, Lp sold 34,943 shares of Appian stock. The shares were sold at an average price of $28.08, for a total transaction of $981,199.44.
• On Friday, April 4th, Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock. The shares were sold at an average price of $26.49, for a total transaction of $2,080,206.72.
• On Wednesday, April 2nd, Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock. The stock was sold at an average price of $29.52, for a total value of $1,711,422.00.

Appian Stock Performance

APPN stock opened at $26.56 on Friday. Appian Co. has a one year low of $24.00 and a one year high of $43.33. The stock has a market capitalization of $1.97 billion, a P/E ratio of -21.08 and a beta of 1.78. The company has a 50 day moving average price of $30.20 and a two-hundred day moving average price of $33.50.

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

Hedge Funds Weigh In On Appian

A number of large investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new position in shares of Appian in the 4th quarter worth $35,000. Canada Pension Plan Investment Board grew its holdings in shares of Appian by 27.8% during 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. increased its position in Appian by 1,244.8% during the 4th 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 in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Appian in the fourth quarter valued at approximately $181,000. Finally, FMR LLC lifted its position in Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after buying an additional 3,953 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on APPN shares. DA Davidson decreased their target price on Appian from $40.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Scotiabank assumed coverage on shares of Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price for the company. KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Finally, Morgan Stanley cut their price objective on Appian from $35.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.17.

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.