Appian Co. (NASDAQ:APPN) is Abdiel Capital Advisors LP's 2nd Largest Position

Abdiel Capital Advisors LP boosted its stake in Appian Co. (NASDAQ:APPN - Free Report) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,179,538 shares of the company's stock after acquiring an additional 10,265 shares during the period. Appian comprises approximately 20.7% of Abdiel Capital Advisors LP's portfolio, making the stock its 2nd largest position. Abdiel Capital Advisors LP owned approximately 11.92% of Appian worth $335,721,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its holdings in shares of Appian by 27.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock valued at $76,000 after purchasing an additional 500 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock worth $125,000 after acquiring an additional 3,498 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Appian in the 4th quarter valued at $181,000. Entropy Technologies LP purchased a new stake in Appian in the 4th quarter valued at $208,000. Finally, Magnetar Financial LLC purchased a new stake in Appian in the 4th quarter valued at $249,000. Institutional investors and hedge funds own 52.70% of the company's stock.

Appian Trading Down 0.2 %

Shares of NASDAQ:APPN traded down $0.06 on Friday, reaching $31.27. 428,799 shares of the company were exchanged, compared to its average volume of 546,946. Appian Co. has a 1-year low of $24.00 and a 1-year high of $43.33. The company has a 50-day moving average of $29.50 and a 200-day moving average of $33.32. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -24.82 and a beta of 1.83.

Appian (NASDAQ:APPN - Get Free Report) last posted 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 net margin of 14.95% and a negative return on equity of 532.05%. The company had revenue of $166.70 million for the quarter, compared to analyst estimates of $164.31 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. Appian's revenue was up 14.7% on a year-over-year basis. As a group, analysts forecast that Appian Co. will post -0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Scotiabank dropped their price objective on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. KeyCorp reaffirmed a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. 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, April 14th. Citigroup cut their price target on Appian from $53.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays lowered their price objective on shares of Appian from $37.00 to $28.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $34.14.

Insider Buying and Selling at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total value of $1,711,422.00. Following the sale, the insider now directly owns 10,121,563 shares in the company, valued at $298,788,539.76. This represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the sale, the director now owns 29,348 shares of the company's stock, valued at approximately $974,647.08. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 240,510 shares of company stock valued at $6,648,635 over the last quarter. Corporate insiders own 44.00% of the company's stock.

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.