Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 57,975 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total transaction of $1,711,422.00. Following the completion of the transaction, the insider now owns 10,121,563 shares in the company, valued at $298,788,539.76. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major 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 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.

Appian Stock Down 5.5 %

NASDAQ APPN traded down $1.55 during trading hours on Friday, reaching $26.40. The company’s stock had a trading volume of 873,823 shares, compared to its average volume of 544,089. Appian Co. has a 1 year low of $25.69 and a 1 year high of $43.33. The firm’s 50-day moving average price is $32.07 and its 200-day moving average price is $34.06. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -20.95 and a beta of 1.78.

Appian (NASDAQ:APPN) last announced 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 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 business’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Equities research analysts anticipate that Appian Co. will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Appian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in shares of Appian during the 4th quarter worth approximately $35,000. Canada Pension Plan Investment Board increased its position in Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after purchasing an additional 3,498 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Appian during the fourth quarter valued at $181,000. Finally, FMR LLC grew its stake in shares of Appian by 199.4% in the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after buying an additional 3,953 shares in the last quarter. 52.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. KeyCorp restated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Scotiabank started coverage on shares of Appian in a research note on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price on the stock. Finally, Barclays upped their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $37.80.

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.