Insider Selling: Appian Co. (NASDAQ:APPN) Major Shareholder Sells 50,000 Shares of Stock

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 50,000 shares of Appian stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $31.59, for a total value of $1,579,500.00. Following the completion of the transaction, the insider now directly owns 7,746,941 shares of the company's stock, valued at $244,725,866.19. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 Wednesday, June 11th, Abdiel Capital Advisors, Lp sold 10,450 shares of Appian stock. The shares were sold at an average price of $31.45, for a total transaction of $328,652.50.
• On Monday, June 9th, Abdiel Capital Advisors, Lp sold 56,500 shares of Appian stock. The shares were 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 stock was 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 value 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 value 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 stock was 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 shares were 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 value of $1,677,448.65.
• On Wednesday, May 28th, Abdiel Capital Advisors, Lp sold 4,670 shares of Appian stock. The shares were sold at an average price of $31.51, for a total transaction of $147,151.70.

Appian Price Performance

Shares of NASDAQ APPN traded down $0.87 on Friday, hitting $29.73. The company's stock had a trading volume of 20,967 shares, compared to its average volume of 561,438. Appian Co. has a 12-month low of $24.00 and a 12-month high of $43.33. The stock has a 50 day moving average of $30.27 and a 200-day moving average of $32.45. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -23.54 and a beta of 1.75.

Appian (NASDAQ:APPN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.10. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.43 million for the quarter, compared to analysts' expectations of $163.27 million. During the same quarter last year, the firm earned ($0.24) earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Appian Co. will post -0.28 EPS for the current fiscal year.

Institutional Trading of Appian

Several institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in shares of Appian by 285.9% during the 3rd quarter. Barclays PLC now owns 71,771 shares of the company's stock worth $2,451,000 after purchasing an additional 53,172 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Appian during the 4th quarter valued at $1,688,000. Geode Capital Management LLC lifted 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 acquiring an additional 14,710 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in 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 buying an additional 1,100 shares during the period. Finally, Vanguard Group Inc. boosted its holdings 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 worth $165,839,000 after purchasing an additional 23,890 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup upped their price objective on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Scotiabank lowered 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. DA Davidson raised shares of Appian to a "hold" rating in a report on Monday. Barclays raised 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. Finally, Morgan Stanley increased their price target on Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $36.29.

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.