Abdiel Capital Advisors, Lp Sells 33,000 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $27.11, for a total value of $894,630.00. Following the sale, the insider now owns 9,802,219 shares of the company’s stock, valued at approximately $265,738,157.09. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 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 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 transaction 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 shares were sold at an average price of $26.49, for a total value 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 Stock Performance

Appian stock traded down $0.51 during trading on Wednesday, reaching $26.92. The company had a trading volume of 525,452 shares, compared to its average volume of 547,936. Appian Co. has a 12-month low of $24.00 and a 12-month high of $43.33. The stock’s 50 day moving average price is $30.61 and its two-hundred day moving average price is $33.64. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -21.37 and a beta of 1.78.

Appian (NASDAQ:APPN) last issued its 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 previous year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, 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 bought and sold shares of APPN. FMR LLC boosted its stake in shares of Appian by 199.4% in the third 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 period. Barclays PLC increased its holdings in Appian by 285.9% during the 3rd quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after purchasing an additional 53,172 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Appian by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock valued at $32,695,000 after purchasing an additional 5,772 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Appian by 18.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company’s stock valued at $1,081,000 after buying an additional 4,813 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Appian during the fourth quarter worth approximately $208,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. DA Davidson reduced their price target on shares of Appian from $40.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday. Morgan Stanley lowered their target price on Appian from $35.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday. Scotiabank assumed coverage on shares of Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective on the stock. Finally, KeyCorp reiterated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Appian currently has an average rating of “Hold” and an average price target of $35.17.

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.