Insider Selling: Appian Co. (NASDAQ:APPN) Major Shareholder Sells 140,050 Shares of Stock

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 140,050 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $31.96, for a total value of $4,475,998.00. Following the transaction, the insider now owns 9,615,066 shares in the company, valued at $307,297,509.36. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 Wednesday, April 16th, Abdiel Capital Advisors, Lp sold 5,103 shares of Appian stock. The stock was sold at an average price of $27.02, for a total transaction of $137,883.06.
• On Monday, April 14th, Abdiel Capital Advisors, Lp sold 33,000 shares of Appian stock. The shares were sold at an average price of $27.11, for a total value of $894,630.00.
• On Friday, April 11th, Abdiel Capital Advisors, Lp sold 29,971 shares of Appian stock. The stock was sold at an average price of $27.04, for a total value of $810,415.84.
• On Wednesday, April 9th, Abdiel Capital Advisors, Lp sold 34,943 shares of Appian stock. The shares were sold at an average price of $28.08, for a total value of $981,199.44.
• On Friday, April 4th, Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock. The shares were sold at an average price of $26.49, for a total transaction of $2,080,206.72.
• On Wednesday, April 2nd, Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock. The shares were sold at an average price of $29.52, for a total transaction of $1,711,422.00.

Appian Stock Performance

Shares of NASDAQ APPN traded up $0.16 during mid-day trading on Thursday, hitting $33.13. The stock had a trading volume of 866,736 shares, compared to its average volume of 555,967. The firm has a market cap of $2.45 billion, a PE ratio of -26.29 and a beta of 1.83. The company has a 50 day moving average of $29.46 and a two-hundred day moving average of $33.34. Appian Co. has a twelve month low of $24.00 and a twelve month high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last posted 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 business 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 business earned ($0.24) EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts predict that Appian Co. will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Appian

A number of institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new stake in shares of Appian in the fourth quarter worth $35,000. Canada Pension Plan Investment Board boosted its stake in shares of Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after acquiring an additional 500 shares in the last quarter. Concord Wealth Partners boosted its position in Appian by 21.7% during 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. Russell Investments Group Ltd. grew its stake in Appian by 1,244.8% in the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after acquiring an additional 3,498 shares during the period. Finally, Headlands Technologies LLC increased its stake in shares of 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 in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on APPN. 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 their price objective on Appian from $28.00 to $35.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Morgan Stanley upped their target price on Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Barclays raised their price target on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a report on Friday, May 9th. Finally, Citigroup upped their price objective on shares of Appian from $40.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Appian currently has a consensus rating of "Hold" and an average target price 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.