Appian Corporation $APPN Position Trimmed by Abdiel Capital Advisors LP

Key Points

• Abdiel Capital Advisors sharply reduced its Appian stake by 81.2% in the fourth quarter, selling over 1.07 million shares and leaving it with 248,450 shares worth about $8.8 million.
• Appian’s latest quarterly results beat expectations, with EPS of $0.27 versus the $0.19 estimate and revenue of $202.18 million, up 21.5% year over year.
• Despite the earnings beat, Wall Street remains cautious: analysts’ consensus rating is “Reduce” with an average price target of $26, while Appian stock recently traded at $21.56.

Abdiel Capital Advisors LP lessened its stake in shares of Appian Corporation (NASDAQ:APPN - Free Report) by 81.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 248,450 shares of the company's stock after selling 1,075,738 shares during the period. Appian makes up about 12.4% of Abdiel Capital Advisors LP's portfolio, making the stock its 4th biggest position. Abdiel Capital Advisors LP owned approximately 0.34% of Appian worth $8,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. State of Wyoming boosted its holdings in shares of Appian by 55.0% in the 4th quarter. State of Wyoming now owns 1,462 shares of the company's stock valued at $52,000 after acquiring an additional 519 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Appian by 7.8% in the 4th quarter. ProShare Advisors LLC now owns 7,481 shares of the company's stock valued at $265,000 after acquiring an additional 543 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Appian by 282.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company's stock valued at $25,000 after acquiring an additional 599 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Appian by 1.7% in the 3rd quarter. Legal & General Group Plc now owns 37,730 shares of the company's stock valued at $1,153,000 after acquiring an additional 632 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Appian by 4.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,214 shares of the company's stock valued at $539,000 after acquiring an additional 681 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on APPN shares. TD Cowen dropped their price objective on shares of Appian from $27.00 to $24.00 and set a "hold" rating on the stock in a report on Friday, May 15th. Barclays upped their price objective on shares of Appian from $21.00 to $23.00 and gave the company an "underweight" rating in a report on Friday, May 8th. UBS Group set a $25.00 price objective on shares of Appian in a report on Thursday, April 30th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $25.00 price objective (down from $41.00) on shares of Appian in a report on Thursday, April 30th. Finally, Citigroup lowered their price target on shares of Appian from $38.00 to $37.00 and set a "buy" rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $26.00.

Appian Stock Performance

NASDAQ:APPN opened at $21.56 on Thursday. The company has a fifty day moving average of $22.23 and a two-hundred day moving average of $27.25. The stock has a market capitalization of $1.58 billion, a PE ratio of 2,158.16 and a beta of 0.90. Appian Corporation has a fifty-two week low of $18.63 and a fifty-two week high of $46.06.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.08. Appian had a net margin of 0.12% and a negative return on equity of 26.12%. The company had revenue of $202.18 million during the quarter, compared to analysts' expectations of $191.57 million. During the same period in the prior year, the business posted $0.13 earnings per share. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. Appian has set its FY 2026 guidance at 0.940-1.050 EPS and its Q2 2026 guidance at -0.020-0.020 EPS. Research analysts forecast that Appian Corporation will post 0.25 earnings per share for the current year.

Insider Buying and Selling

In other Appian news, CRO Mark Dorsey bought 5,227 shares of Appian stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $19.13 per share, for a total transaction of $99,992.51. Following the completion of the transaction, the executive directly owned 13,993 shares of the company's stock, valued at approximately $267,686.09. This represents a 59.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 43.00% of the company's stock.

Appian Company Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.

Want to see what other hedge funds are holding APPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Appian Corporation (NASDAQ:APPN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.