Abdiel Capital Advisors, Lp Sells 10,450 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $31.45, for a total transaction of $328,652.50. Following the completion of the sale, the insider now directly owns 7,736,491 shares in the company, valued at approximately $243,312,641.95. This trade represents a 0.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Tuesday, June 10th, Abdiel Capital Advisors, Lp sold 50,000 shares of Appian stock. The shares were sold at an average price of $31.59, for a total transaction of $1,579,500.00.
• On Monday, June 9th, Abdiel Capital Advisors, Lp sold 56,500 shares of Appian stock. The stock was sold at an average price of $32.05, for a total transaction of $1,810,825.00.
• On Friday, June 6th, Abdiel Capital Advisors, Lp sold 225,720 shares of Appian stock. The shares were sold at an average price of $32.21, for a total value of $7,270,441.20.
• On Thursday, June 5th, Abdiel Capital Advisors, Lp sold 225,615 shares of Appian stock. The shares were sold at an average price of $32.15, for a total transaction of $7,253,522.25.
• On Wednesday, June 4th, Abdiel Capital Advisors, Lp sold 125,615 shares of Appian stock. The shares were sold at an average price of $31.80, for a total transaction of $3,994,557.00.
• On Tuesday, June 3rd, Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock. The shares were sold at an average price of $31.83, for a total value of $9,549,000.00.
• On Monday, June 2nd, Abdiel Capital Advisors, Lp sold 37,437 shares of Appian stock. The shares were sold at an average price of $31.43, for a total transaction of $1,176,644.91.
• On Friday, May 30th, Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock. The stock was sold at an average price of $31.47, for a total value of $9,441,000.00.
• On Thursday, May 29th, Abdiel Capital Advisors, Lp sold 53,337 shares of Appian stock. The stock was sold at an average price of $31.45, for a total transaction of $1,677,448.65.
• On Wednesday, May 28th, Abdiel Capital Advisors, Lp sold 4,670 shares of Appian stock. The stock was sold at an average price of $31.51, for a total transaction of $147,151.70.

Appian Stock Down 2.9%

Appian stock traded down $0.89 during midday trading on Friday, reaching $29.70. 49,447 shares of the stock traded hands, compared to its average volume of 561,515. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33. The stock's fifty day moving average is $30.27 and its 200-day moving average is $32.45. The stock has a market cap of $2.20 billion, a P/E ratio of -23.63 and a beta of 1.75.

Appian (NASDAQ:APPN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.10. The firm had revenue of $166.43 million during the quarter, compared to analysts' expectations of $163.27 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.24) EPS. On average, equities analysts predict that Appian Co. will post -0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APPN shares. Citigroup boosted their price target on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. 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. DA Davidson upgraded shares of Appian to a "hold" rating in a research note on Monday. Morgan Stanley upped their target price on shares of Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Finally, Scotiabank decreased their price target on Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $36.29.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of Appian by 285.9% during 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. Raymond James Financial Inc. purchased a new stake in shares of Appian in the 4th quarter worth $1,688,000. Geode Capital Management LLC grew its position in shares of Appian by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock worth $32,071,000 after buying an additional 14,710 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Appian by 14.7% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock valued at $284,000 after buying an additional 1,100 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Appian by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company's stock valued at $165,839,000 after buying an additional 23,890 shares during the period. Hedge funds and other institutional investors own 52.70% 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.