Insider Selling: Appian Co. (NASDAQ:APPN) Major Shareholder Sells 300,000 Shares of Stock

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $31.47, for a total value of $9,441,000.00. Following the completion of the transaction, the insider now directly owns 8,767,828 shares in the company, valued at approximately $275,923,547.16. The trade was a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% 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 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 value 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 value of $1,176,644.91.
• 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 value 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 value 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 Stock Up 0.5%

Appian stock traded up $0.15 during mid-day trading on Thursday, hitting $31.80. The company's stock had a trading volume of 704,855 shares, compared to its average volume of 561,994. The stock has a market capitalization of $2.35 billion, a P/E 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 fifty day moving average price is $29.84 and its two-hundred day moving average price 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 (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $163.27 million. During the same quarter in the previous year, the company earned ($0.24) EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts expect that Appian Co. will post -0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new position in Appian in the 4th quarter worth approximately $35,000. Concord Wealth Partners raised its position in Appian by 21.7% in the first quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock worth $74,000 after purchasing an additional 461 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after purchasing an additional 500 shares in the last quarter. Headlands Technologies LLC lifted its stake in Appian by 2,052.0% during the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company's stock worth $122,000 after purchasing an additional 4,022 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after purchasing an additional 3,498 shares in the last quarter. 52.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on APPN shares. Morgan Stanley increased 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. Scotiabank decreased their price target on Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Barclays increased 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. DA Davidson increased 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. Finally, Citigroup increased their price target on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.