Abdiel Capital Advisors, Lp Sells 164,000 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 164,000 shares of Appian stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $32.66, for a total transaction of $5,356,240.00. Following the completion of the transaction, the insider now directly owns 9,350,401 shares in the company, valued at approximately $305,384,096.66. The trade was a 1.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, May 15th, Abdiel Capital Advisors, Lp sold 100,665 shares of Appian stock. The stock was sold at an average price of $32.67, for a total transaction of $3,288,725.55.
• On Thursday, May 8th, Abdiel Capital Advisors, Lp sold 140,050 shares of Appian stock. The stock was sold at an average price of $31.96, for a total transaction of $4,475,998.00.
• 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 Monday, April 14th, Abdiel Capital Advisors, Lp sold 33,000 shares of Appian stock. The stock was sold at an average price of $27.11, for a total transaction of $894,630.00.
• 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 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 transaction of $981,199.44.
• 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 transaction of $2,080,206.72.
• 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 transaction of $1,711,422.00.

Appian Price Performance

NASDAQ:APPN opened at $32.15 on Wednesday. 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 $2.38 billion, a P/E ratio of -25.52 and a beta of 1.83. The firm’s fifty day moving average price is $29.65 and its two-hundred day moving average price is $33.26.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm had revenue of $166.43 million for the quarter, compared to the consensus estimate of $163.27 million. During the same period in the previous year, the company earned ($0.24) earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that Appian Co. will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Appian

Several institutional investors and hedge funds have recently modified their holdings of APPN. Barclays PLC grew its stake in shares of Appian by 285.9% in the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock valued at $2,451,000 after acquiring an additional 53,172 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Appian by 18.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company’s stock valued at $1,081,000 after acquiring an additional 4,813 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Appian in the fourth quarter valued at about $208,000. Handelsbanken Fonder AB grew its stake in shares of Appian by 14.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock valued at $284,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Appian by 5.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock valued at $270,000 after acquiring an additional 400 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on APPN. Morgan Stanley upped their price target on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Citigroup upped their price target on shares of Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. DA Davidson upped their price target on shares of Appian from $28.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Barclays upped their price target on shares of Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research report on Friday, May 9th. Finally, Scotiabank dropped their price target on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.29.

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.