Abdiel Capital Advisors, Lp Sells 34,943 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 34,943 shares of Appian stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $28.08, for a total transaction of $981,199.44. Following the sale, the insider now owns 9,907,197 shares of the company’s stock, valued at approximately $278,194,091.76. This represents a 0.35 % 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. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Abdiel Capital Advisors, Lp also recently made the following trade(s):

• 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 transaction of $810,415.84.
• 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 value of $1,711,422.00.

Appian Stock Performance

Shares of Appian stock opened at $27.02 on Friday. The business has a 50-day simple moving average of $30.90 and a 200-day simple moving average of $33.75. Appian Co. has a one year low of $24.00 and a one year high of $43.33. The company has a market cap of $2.00 billion, a PE ratio of -21.44 and a beta of 1.78.

Appian (NASDAQ:APPN) last announced 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 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 for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. On average, sell-side analysts predict that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Scotiabank assumed coverage on Appian in a research report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price for the company. KeyCorp restated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. One 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. According to data from MarketBeat, Appian has an average rating of “Hold” and an average target price of $37.80.

Institutional Trading of Appian

A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in shares of Appian by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock worth $740,000 after acquiring an additional 686 shares in the last quarter. FMR LLC increased its stake in 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Appian by 0.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock worth $2,739,000 after purchasing an additional 491 shares in the last quarter. Barclays PLC lifted its position in shares of 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 buying an additional 53,172 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 buying an additional 5,772 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

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.