Abdiel Capital Advisors, Lp Sells 56,500 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 56,500 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $32.05, for a total value of $1,810,825.00. Following the completion of the sale, the insider now owns 7,796,941 shares of the company’s stock, valued at $249,891,959.05. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Wednesday, June 11th, Abdiel Capital Advisors, Lp sold 10,450 shares of Appian stock. The stock was sold at an average price of $31.45, for a total value of $328,652.50.
• On Tuesday, June 10th, Abdiel Capital Advisors, Lp sold 50,000 shares of Appian stock. The shares were sold at an average price of $31.59, for a total value of $1,579,500.00.
• On Friday, June 6th, Abdiel Capital Advisors, Lp sold 225,720 shares of Appian stock. The shares were sold at an average price of $32.21, for a total value of $7,270,441.20.
• 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 value 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 value 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 shares were 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 value 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 value of $147,151.70.

Appian Stock Down 1.6%

Shares of APPN stock opened at $30.59 on Friday. Appian Co. has a 12-month low of $24.00 and a 12-month high of $43.33. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -24.28 and a beta of 1.75. The firm has a fifty day moving average of $30.27 and a 200-day moving average of $32.45.

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

Hedge Funds Weigh In On Appian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Appian by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company’s stock worth $165,839,000 after purchasing an additional 23,890 shares during the period. Jones Financial Companies Lllp lifted its position in Appian by 347,121.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,579,858 shares of the company’s stock worth $45,516,000 after buying an additional 1,579,403 shares in the last quarter. Lead Edge Capital Management LLC lifted its position in Appian by 5.7% during the 4th quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company’s stock worth $50,396,000 after buying an additional 83,000 shares in the last quarter. First Trust Advisors LP lifted its position in Appian by 7.1% during the 4th quarter. First Trust Advisors LP now owns 1,263,405 shares of the company’s stock worth $41,667,000 after buying an additional 83,708 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Appian by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock worth $32,071,000 after buying an additional 14,710 shares in the last quarter. 52.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APPN. DA Davidson raised Appian to a “hold” rating in a research report on Monday. Morgan Stanley lifted their target price on shares of Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Barclays lifted their target price on shares of Appian from $28.00 to $33.00 and gave the company an “underweight” rating in a research note on Friday, May 9th. Scotiabank dropped their price objective on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Finally, Citigroup boosted their price objective on shares of Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.29.

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.