Insider Selling: Appian Co. (NASDAQ:APPN) Major Shareholder Sells $894,630.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 33,000 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.11, for a total transaction of $894,630.00. Following the completion of the sale, the insider now directly owns 9,802,219 shares in the company, valued at approximately $265,738,157.09. The trade was a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% 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 Friday, April 11th, Abdiel Capital Advisors, Lp sold 29,971 shares of Appian stock. The shares were 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 shares were 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 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 transaction of $1,711,422.00.

Appian Price Performance

Shares of NASDAQ APPN opened at $26.56 on Friday. The business has a fifty day moving average price of $30.20 and a two-hundred day moving average price of $33.50. The stock has a market capitalization of $1.97 billion, a PE ratio of -21.08 and a beta of 1.78. Appian Co. has a fifty-two week low of $24.00 and a fifty-two week high of $43.33.

Appian (NASDAQ:APPN) last posted its quarterly earnings data 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). 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 the consensus estimate of $164.31 million. During the same period in the prior year, the company earned $0.06 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts expect that Appian Co. will post -0.28 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Scotiabank initiated 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. KeyCorp reissued a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. DA Davidson decreased their price objective on Appian from $40.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley dropped their target price on Appian from $35.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday. One 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.com, Appian currently has a consensus rating of “Hold” and a consensus target price of $35.17.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake 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 last quarter. Barclays PLC raised its stake in Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after acquiring an additional 53,172 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Appian by 0.6% in the third quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock worth $32,695,000 after acquiring an additional 5,772 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Appian by 18.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company’s stock valued at $1,081,000 after purchasing an additional 4,813 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Appian during the 4th quarter valued at approximately $208,000. 52.70% of the stock is 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.