Abdiel Capital Advisors, Lp Sells 300,000 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $31.83, for a total transaction of $9,549,000.00. Following the transaction, the insider now directly owns 8,430,391 shares in the company, valued at approximately $268,339,345.53. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 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 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 value 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.
• 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 shares were 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 transaction of $4,830,000.00.
• On Friday, May 16th, Abdiel Capital Advisors, Lp sold 164,000 shares of Appian stock. The stock was sold at an average price of $32.66, for a total transaction of $5,356,240.00.
• On Thursday, May 15th, Abdiel Capital Advisors, Lp sold 100,665 shares of Appian stock. The stock was sold at an average price of $32.67, for a total transaction of $3,288,725.55.
• On Thursday, May 8th, Abdiel Capital Advisors, Lp sold 140,050 shares of Appian stock. The stock was sold at an average price of $31.96, for a total transaction of $4,475,998.00.

Appian Price Performance

Shares of APPN stock traded up $0.15 during trading hours on Thursday, hitting $31.80. The stock had a trading volume of 704,855 shares, compared to its average volume of 561,994. The firm has a market capitalization of $2.35 billion, a PE ratio of -25.24 and a beta of 1.83. Appian Co. has a twelve month low of $24.00 and a twelve month high of $43.33. The stock's 50 day moving average is $29.84 and its 200 day moving average is $32.70.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $166.43 million during the quarter, compared to the consensus estimate 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 revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.24) earnings per share. As a group, equities analysts predict that Appian Co. will post -0.28 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on APPN shares. Morgan Stanley boosted their price target 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. Citigroup boosted their price target 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. DA Davidson boosted their price target 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. Scotiabank reduced their price target 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. Finally, Barclays boosted their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.29.

Institutional Trading of Appian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPN. Vanguard Group Inc. grew its holdings 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. Jones Financial Companies Lllp grew its holdings in Appian by 347,121.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,579,858 shares of the company's stock valued at $45,516,000 after buying an additional 1,579,403 shares during the period. Lead Edge Capital Management LLC grew its holdings in Appian by 5.7% in the 4th quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company's stock valued at $50,396,000 after buying an additional 83,000 shares during the period. First Trust Advisors LP grew its holdings in Appian by 7.1% in the 4th quarter. First Trust Advisors LP now owns 1,263,405 shares of the company's stock valued at $41,667,000 after buying an additional 83,708 shares during the period. Finally, Geode Capital Management LLC grew its holdings 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. Hedge funds and other institutional investors own 52.70% of the company's stock.

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.