Abdiel Capital Advisors, Lp Sells 78,528 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the sale, the insider now directly owns 9,942,140 shares in the company, valued at approximately $263,367,288.60. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% 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 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 value of $1,711,422.00.

Appian Trading Down 5.5 %

APPN stock traded down $1.55 during mid-day trading on Friday, hitting $26.40. The stock had a trading volume of 873,823 shares, compared to its average volume of 544,089. Appian Co. has a 1-year low of $25.69 and a 1-year high of $43.33. The company has a fifty day moving average of $32.07 and a 200 day moving average of $34.06. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -20.95 and a beta of 1.78.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 EPS. As a group, sell-side analysts expect that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of APPN. Point72 Hong Kong Ltd acquired a new position in Appian during the fourth quarter worth $35,000. Canada Pension Plan Investment Board boosted its stake in shares of Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after acquiring an additional 500 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after acquiring an additional 3,498 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Appian in the 4th quarter valued at approximately $181,000. Finally, FMR LLC raised 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 acquiring an additional 3,953 shares in the last quarter. Institutional investors own 52.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APPN. Scotiabank assumed coverage on Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price objective for the company. Barclays raised their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.