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 business’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 transaction, the insider now owns 9,615,066 shares in the company, valued at approximately $307,297,509.36. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 shares were 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 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 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 Appian stock opened at $32.27 on Tuesday. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -25.61 and a beta of 1.83. The business has a 50-day moving average of $29.40 and a 200 day moving average of $33.35. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.12. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.24) EPS. Equities research analysts anticipate 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 made changes to their positions in the stock. Point72 Hong Kong Ltd purchased a new position in Appian in the fourth quarter worth approximately $35,000. Concord Wealth Partners raised its holdings in shares of Appian by 21.7% in 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 grew its stake in shares of Appian by 27.8% during the fourth 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 in the last quarter. Headlands Technologies LLC increased its holdings in Appian by 2,052.0% in the first 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. raised its stake in Appian by 1,244.8% in the fourth 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 in the last quarter. 52.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APPN. KeyCorp restated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Barclays raised their target price on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research note on Friday. Morgan Stanley upped their price target on Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday. Citigroup lowered their price target on Appian from $53.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Finally, Scotiabank reduced their price objective on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Appian presently has an average rating of “Hold” and a consensus price target of $36.14.

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.