Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 37,437 Shares

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 37,437 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $31.43, for a total transaction of $1,176,644.91. Following the completion of the sale, the insider now owns 8,730,391 shares of the company's stock, valued at approximately $274,396,189.13. The trade was a 0.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 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 transaction 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.
• On Tuesday, May 27th, Abdiel Capital Advisors, Lp sold 73,166 shares of Appian stock. The shares were 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 shares were 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 shares were sold at an average price of $32.67, for a total value of $3,288,725.55.
• On Thursday, May 8th, Abdiel Capital Advisors, Lp sold 140,050 shares of Appian stock. The shares were sold at an average price of $31.96, for a total value of $4,475,998.00.

Appian Price Performance

NASDAQ APPN traded up $0.15 on Thursday, reaching $31.80. 704,855 shares of the company's stock traded hands, compared to its average volume of 561,994. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33. The stock has a market cap of $2.35 billion, a PE ratio of -25.24 and a beta of 1.83. The stock has a 50-day simple moving average of $29.84 and a 200 day simple moving average of $32.70.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly 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. 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 during the quarter, compared to the consensus estimate of $163.27 million. During the same period last year, the company earned ($0.24) earnings per share. The company's revenue was up 11.1% on a year-over-year basis. As a group, analysts anticipate that Appian Co. will post -0.28 EPS for the current year.

Institutional Trading of Appian

A number of large investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC grew its holdings in Appian by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 31,495 shares of the company's stock valued at $958,000 after purchasing an additional 368 shares during the period. Oppenheimer & Co. Inc. increased its stake in Appian by 5.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock worth $270,000 after acquiring an additional 400 shares during the last quarter. Concord Wealth Partners grew its stake in shares of Appian by 21.7% in the first quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock valued at $74,000 after buying an additional 461 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock valued at $76,000 after purchasing an additional 500 shares during the period. Finally, Penserra Capital Management LLC lifted its holdings in Appian by 6.3% during the 1st quarter. Penserra Capital Management LLC now owns 16,646 shares of the company's stock worth $479,000 after buying an additional 989 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Wall Street Analysts Forecast Growth

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