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 the stock in a transaction that occurred 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% 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 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 transaction 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 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 Down 0.8%

APPN traded down $0.25 during trading on Monday, hitting $31.93. 441,378 shares of the company traded hands, compared to its average volume of 563,605. The company has a market cap of $2.37 billion, a PE ratio of -25.34 and a beta of 1.75. The stock's 50-day simple moving average is $29.97 and its two-hundred day simple moving average is $32.57. Appian Co. has a 1 year low of $24.00 and a 1 year high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $166.43 million during the quarter, compared to analysts' expectations of $163.27 million. During the same period last year, the company posted ($0.24) EPS. The business's revenue was up 11.1% on a year-over-year basis. Equities analysts expect that Appian Co. will post -0.28 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays increased 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. Citigroup increased their price objective on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. DA Davidson increased their price objective on shares of Appian from $28.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Scotiabank reduced their price objective 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, Morgan Stanley increased their price objective on shares of Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $36.29.

Institutional Investors Weigh In On Appian

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position 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. Raymond James Financial Inc. purchased a new stake in Appian in the 4th quarter valued at about $1,688,000. Geode Capital Management LLC boosted its position in Appian by 1.5% in 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 during the period. Handelsbanken Fonder AB boosted its position in Appian by 14.7% in 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 during the period. Finally, Vanguard Group Inc. boosted its position in Appian by 0.5% in 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 during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

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.