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

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $29.52, for a total value of $1,711,422.00. Following the completion of the transaction, the insider now directly owns 10,121,563 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 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 shares were sold at an average price of $26.49, for a total value of $2,080,206.72.

Appian Trading Down 5.5 %

Shares of NASDAQ:APPN opened at $26.40 on Monday. Appian Co. has a 12-month low of $25.21 and a 12-month high of $43.33. The business has a 50 day moving average of $32.07 and a two-hundred day moving average of $34.07. The company has a market capitalization of $1.95 billion, a PE 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). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $164.31 million. During the same period last year, the company posted $0.06 earnings per share. The business’s quarterly revenue was up 14.7% on a year-over-year basis. Equities research analysts predict that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Appian

A number of large investors have recently bought and sold shares of APPN. Point72 Hong Kong Ltd purchased a new stake in shares of Appian in the fourth quarter valued at approximately $35,000. Canada Pension Plan Investment Board raised its position in Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after acquiring an additional 500 shares during the period. Russell Investments Group Ltd. lifted its holdings 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 acquired a new stake in shares of Appian in the fourth quarter valued at about $181,000. Finally, FMR LLC increased its stake in shares of Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after purchasing an additional 3,953 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

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.