Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 33,000 Shares

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 33,000 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $27.11, for a total transaction of $894,630.00. Following the completion of the transaction, the insider now directly owns 9,802,219 shares of the company's stock, valued at approximately $265,738,157.09. The trade was a 0.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases 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 shares were sold at an average price of $27.02, for a total transaction of $137,883.06.
• On Friday, April 11th, Abdiel Capital Advisors, Lp sold 29,971 shares of Appian stock. The shares were 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 stock was 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 value of $1,711,422.00.

Appian Trading Down 4.2 %

NASDAQ APPN traded down $1.11 on Monday, reaching $25.44. 30,244 shares of the company were exchanged, compared to its average volume of 546,985. Appian Co. has a fifty-two week low of $24.00 and a fifty-two week high of $43.33. The stock has a market capitalization of $1.88 billion, a P/E ratio of -20.23 and a beta of 1.78. The business's fifty day moving average price is $30.20 and its 200 day moving average price is $33.49.

Appian (NASDAQ:APPN - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.70 million for the quarter, compared to analysts' expectations of $164.31 million. During the same period last year, the firm earned $0.06 earnings per share. Appian's revenue for the quarter was up 14.7% on a year-over-year basis. Equities research analysts forecast that Appian Co. will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Appian

Large investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. lifted its position in Appian by 5.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock valued at $270,000 after buying an additional 400 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Appian by 27.8% in the 4th 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 last quarter. Point72 Hong Kong Ltd purchased a new stake in Appian in the fourth quarter valued at approximately $35,000. Handelsbanken Fonder AB lifted its stake in Appian by 14.7% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after purchasing an additional 1,100 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Appian by 8.0% during the fourth quarter. MetLife Investment Management LLC now owns 24,325 shares of the company's stock worth $802,000 after buying an additional 1,809 shares during the period. Institutional investors and hedge funds own 52.70% of the company's stock.

Analysts Set New Price Targets

APPN has been the subject of several recent analyst reports. DA Davidson reduced their price objective on shares of Appian from $40.00 to $28.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Scotiabank started coverage on shares of Appian in a report on Monday, January 6th. They issued a "sector perform" rating and a $37.00 price target on the stock. KeyCorp reissued a "sector weight" rating on shares of Appian in a report on Tuesday, January 14th. Morgan Stanley dropped their price target on shares of Appian from $35.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Barclays reduced their target price on Appian from $37.00 to $28.00 and set an "underweight" rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Appian presently has a consensus rating of "Hold" and a consensus target price of $33.67.

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.