Abdiel Capital Advisors, Lp Sells 225,615 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 225,615 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $32.15, for a total transaction of $7,253,522.25. Following the completion of the sale, the insider now directly owns 8,079,161 shares in the company, valued at $259,745,026.15. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, June 6th, Abdiel Capital Advisors, Lp sold 225,720 shares of Appian stock. The stock was sold at an average price of $32.21, for a total transaction of $7,270,441.20.
• On Wednesday, June 4th, Abdiel Capital Advisors, Lp sold 125,615 shares of Appian stock. The stock was 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 stock was sold at an average price of $31.83, for a total transaction of $9,549,000.00.
• On Monday, June 2nd, Abdiel Capital Advisors, Lp sold 37,437 shares of Appian stock. The stock was 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 transaction 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.
• On Tuesday, May 27th, Abdiel Capital Advisors, Lp sold 73,166 shares of Appian stock. The stock was sold at an average price of $31.71, for a total transaction of $2,320,093.86.
• On Wednesday, May 21st, Abdiel Capital Advisors, Lp sold 1,400 shares of Appian stock. The stock was sold at an average price of $32.01, for a total transaction of $44,814.00.
• On Tuesday, May 20th, Abdiel Capital Advisors, Lp sold 150,000 shares of Appian stock. The stock was sold at an average price of $32.20, for a total transaction of $4,830,000.00.

Appian Trading Up 1.2%

Appian stock traded up $0.38 during midday trading on Friday, hitting $32.18. The stock had a trading volume of 620,549 shares, compared to its average volume of 563,255. The firm's fifty day moving average is $29.90 and its two-hundred day moving average is $32.66. The company has a market capitalization of $2.38 billion, a PE ratio of -25.54 and a beta of 1.83. Appian Co. has a 52-week low of $24.00 and a 52-week high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.10. The company had revenue of $166.43 million during the quarter, compared to analyst estimates of $163.27 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.24) EPS. As a group, equities research analysts predict that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Appian

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in Appian by 285.9% during the 3rd quarter. Barclays PLC now owns 71,771 shares of the company's stock valued at $2,451,000 after buying an additional 53,172 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Appian during the 4th quarter valued at approximately $1,688,000. Geode Capital Management LLC grew its holdings in Appian by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock valued at $32,071,000 after buying an additional 14,710 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Appian by 14.7% during the 4th 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 in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Appian by 0.5% during the 4th 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 in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on APPN. DA Davidson upped their target price on shares of Appian from $28.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Morgan Stanley upped their target price on shares of Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Scotiabank lowered their target price 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. Barclays upped their target price on shares of Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Finally, Citigroup upped their target price on shares of Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.