Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 34,943 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 34,943 shares of the company’s stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $28.08, for a total value of $981,199.44. Following the sale, the insider now owns 9,907,197 shares in the company, valued at approximately $278,194,091.76. This trade represents a 0.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% 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 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 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 shares were sold at an average price of $29.52, for a total transaction of $1,711,422.00.

Appian Price Performance

Shares of APPN opened at $27.02 on Friday. Appian Co. has a 1-year low of $24.00 and a 1-year high of $43.33. The stock has a market cap of $2.00 billion, a PE ratio of -21.44 and a beta of 1.78. The firm has a fifty day moving average price of $30.90 and a 200 day moving average price of $33.75.

Appian (NASDAQ:APPN) last released 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). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $164.31 million. During the same quarter in the prior year, the business earned $0.06 EPS. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, equities analysts expect that Appian Co. will post -0.28 EPS for the current fiscal year.

Institutional Trading of Appian

Several institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC raised its holdings in shares of Appian by 285.9% in the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock valued at $2,451,000 after buying an additional 53,172 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Appian during the 4th quarter worth approximately $1,688,000. Handelsbanken Fonder AB increased its holdings in shares of Appian by 14.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock valued at $284,000 after purchasing an additional 1,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Appian by 0.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock valued at $2,739,000 after purchasing an additional 491 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Appian by 0.5% during the fourth 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 last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on APPN shares. KeyCorp reissued a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Scotiabank assumed coverage on Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Appian currently has an average rating of “Hold” and an average price target of $37.80.

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.