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 stock was sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the transaction, the insider now directly owns 9,942,140 shares of the company’s stock, valued at approximately $263,367,288.60. This represents a 0.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Wednesday, April 2nd, Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock. The stock was sold at an average price of $29.52, for a total value of $1,711,422.00.

Appian Stock Down 5.5 %

Appian stock traded down $1.55 during trading hours 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 fifty-two week low of $25.69 and a fifty-two week high of $43.33. The company has a market cap of $1.95 billion, a PE ratio of -20.95 and a beta of 1.78. The company has a 50-day moving average of $32.07 and a two-hundred day moving average of $34.06.

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

Institutional Trading of Appian

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position 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 purchasing an additional 23,890 shares in the last quarter. Lead Edge Capital Management LLC raised its holdings 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 buying an additional 83,000 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Appian by 7.1% during the 4th quarter. First Trust Advisors LP now owns 1,263,405 shares of the company’s stock worth $41,667,000 after buying an additional 83,708 shares during the period. Geode Capital Management LLC boosted its stake in Appian by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock valued at $32,071,000 after buying an additional 14,710 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in Appian by 19.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 658,654 shares of the company’s stock valued at $21,722,000 after acquiring an additional 106,023 shares during the period. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on APPN. Barclays increased their target price on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. KeyCorp reissued a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Finally, Scotiabank began coverage on shares of Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.