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 firm’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $27.11, for a total transaction of $894,630.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 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 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 transaction 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 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 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 Trading Down 1.3 %

Shares of NASDAQ:APPN opened at $26.56 on Friday. The stock has a market capitalization of $1.97 billion, a PE ratio of -21.08 and a beta of 1.78. Appian Co. has a 1 year low of $24.00 and a 1 year high of $43.33. The firm has a fifty day moving average price of $30.34 and a 200 day moving average price of $33.54.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new position in Appian during the 4th quarter worth $4,918,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Appian by 184.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company’s stock worth $6,637,000 after purchasing an additional 130,606 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Appian by 418.8% during the 4th quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company’s stock valued at $5,303,000 after purchasing an additional 129,800 shares during the period. Voloridge Investment Management LLC grew its holdings in Appian by 222.6% in the 4th quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company’s stock valued at $6,034,000 after buying an additional 126,256 shares during the last quarter. Finally, Norges Bank bought a new position in Appian in the 4th quarter worth approximately $4,046,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.