Abdiel Capital Advisors, Lp Sells 225,720 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 225,720 shares of Appian stock in a transaction on Friday, June 6th. The shares were sold at an average price of $32.21, for a total transaction of $7,270,441.20. Following the completion of the transaction, the insider now owns 7,853,441 shares in the company, valued at approximately $252,959,334.61. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 Thursday, June 5th, Abdiel Capital Advisors, Lp sold 225,615 shares of Appian stock. The stock was 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 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 value 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 value of $4,830,000.00.

Appian Stock Performance

APPN stock traded up $0.38 during 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 company's 50 day moving average price is $29.97 and its two-hundred day moving average price is $32.63. Appian Co. has a 1-year low of $24.00 and a 1-year high of $43.33. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -25.54 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 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $166.43 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) EPS. As a group, sell-side analysts forecast that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Appian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPN. Barclays PLC grew its holdings in Appian by 285.9% in 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 during the period. Entropy Technologies LP purchased a new stake in shares of Appian during the 4th quarter worth about $208,000. Handelsbanken Fonder AB grew its holdings in shares of Appian by 14.7% during the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after purchasing an additional 1,100 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Appian by 5.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock worth $270,000 after purchasing an additional 400 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of Appian during the 4th quarter worth about $574,000. Hedge funds and other institutional investors own 52.70% of the company's stock.

Wall Street Analysts Forecast Growth

APPN has been the subject of several research reports. DA Davidson lifted their price target on Appian from $28.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Morgan Stanley lifted their price target on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Barclays lifted their price target on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. Scotiabank cut their target price on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Finally, Citigroup boosted 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 analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average 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.