Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 29,971 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 29,971 shares of the company’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $27.04, for a total transaction of $810,415.84. Following the transaction, the insider now directly owns 9,835,219 shares of the company’s stock, valued at approximately $265,944,321.76. This trade represents a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 9th, Abdiel Capital Advisors, Lp sold 34,943 shares of Appian stock. The stock was 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 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 value of $1,711,422.00.

Appian Trading Down 0.8 %

Shares of Appian stock opened at $27.02 on Friday. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33. The firm has a market capitalization of $2.00 billion, a P/E ratio of -21.44 and a beta of 1.78. The business has a fifty day simple moving average of $30.90 and a two-hundred day simple moving average of $33.75.

Appian (NASDAQ:APPN) last issued 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). The business had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The company’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. Analysts predict that Appian Co. will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on APPN shares. KeyCorp reiterated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Scotiabank started coverage on shares of Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.80.

Institutional Trading of Appian

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Appian by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company’s stock worth $165,839,000 after acquiring an additional 23,890 shares in the last quarter. Lead Edge Capital Management LLC raised its position in shares of Appian by 5.7% in the 4th quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company’s stock worth $50,396,000 after purchasing an additional 83,000 shares during the last quarter. First Trust Advisors LP boosted its stake in Appian by 7.1% in the 4th quarter. First Trust Advisors LP now owns 1,263,405 shares of the company’s stock worth $41,667,000 after purchasing an additional 83,708 shares in the last quarter. Geode Capital Management LLC grew its position in Appian by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock valued at $32,071,000 after purchasing an additional 14,710 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Appian by 19.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 658,654 shares of the company’s stock valued at $21,722,000 after purchasing an additional 106,023 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.