Abdiel Capital Advisors, Lp Sells 140,050 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 140,050 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $31.96, for a total value of $4,475,998.00. Following the completion of the sale, the insider now owns 9,615,066 shares of the company’s stock, valued at $307,297,509.36. This represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more 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 Wednesday, April 16th, Abdiel Capital Advisors, Lp sold 5,103 shares of Appian stock. The stock was sold at an average price of $27.02, for a total value of $137,883.06.
• 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 value of $810,415.84.
• On Wednesday, April 9th, Abdiel Capital Advisors, Lp sold 34,943 shares of Appian stock. The stock was sold at an average price of $28.08, for a total value of $981,199.44.
• 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.
• 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 Price Performance

APPN stock opened at $32.97 on Thursday. The business has a fifty day moving average price of $29.46 and a 200 day moving average price of $33.34. Appian Co. has a fifty-two week low of $24.00 and a fifty-two week high of $43.33. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -26.17 and a beta of 1.83.

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

Analysts Set New Price Targets

APPN has been the subject of a number of research reports. Morgan Stanley raised their price objective on Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. DA Davidson increased their target price on Appian from $28.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Citigroup increased their target price on Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday. Scotiabank dropped their target price on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a report on Thursday, April 24th. Finally, Barclays increased their target price on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Appian has a consensus rating of “Hold” and an average target price of $36.29.

Institutional Investors Weigh In On Appian

A number of hedge funds and other institutional investors have recently bought and sold shares of APPN. Point72 Hong Kong Ltd acquired a new stake in Appian during the 4th quarter valued at $35,000. Concord Wealth Partners increased its holdings in Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after purchasing an additional 461 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares in the last quarter. Headlands Technologies LLC boosted its position in Appian by 2,052.0% in the 1st quarter. Headlands Technologies LLC now owns 4,218 shares of the company’s stock valued at $122,000 after buying an additional 4,022 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Appian by 1,244.8% in the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after buying an additional 3,498 shares during the last quarter. 52.70% of the stock is owned by institutional investors and hedge funds.

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.