Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Sells 4,670 Shares

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 4,670 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $31.51, for a total value of $147,151.70. Following the completion of the sale, the insider now owns 9,121,165 shares of the company's stock, valued at $287,407,909.15. This represents a 0.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Thursday, May 29th, Abdiel Capital Advisors, Lp sold 53,337 shares of Appian stock. The shares were sold at an average price of $31.45, for a total value of $1,677,448.65.
• 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 shares were sold at an average price of $32.20, for a total value of $4,830,000.00.
• On Friday, May 16th, Abdiel Capital Advisors, Lp sold 164,000 shares of Appian stock. The shares were sold at an average price of $32.66, for a total value 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.
• 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 value 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 shares were sold at an average price of $27.04, for a total value of $810,415.84.

Appian Trading Up 0.5%

Shares of APPN stock traded up $0.17 on Friday, hitting $31.48. 732,009 shares of the stock were exchanged, compared to its average volume of 560,079. Appian Co. has a fifty-two week low of $24.00 and a fifty-two week high of $43.33. The firm has a market capitalization of $2.33 billion, a P/E ratio of -24.98 and a beta of 1.83. The business has a 50-day moving average of $29.77 and a 200 day moving average of $32.78.

Appian (NASDAQ:APPN - Get Free Report) last released its earnings results 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 business had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share. Appian's revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that Appian Co. will post -0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on APPN shares. Morgan Stanley boosted their target price on Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Citigroup upped their price objective on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Barclays upped their price objective on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. DA Davidson upped 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. Finally, Scotiabank reduced their price objective on Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $36.29.

Institutional Trading of Appian

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its holdings in Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company's stock worth $2,451,000 after acquiring an additional 53,172 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Appian during the 4th quarter worth about $1,688,000. Geode Capital Management LLC increased its stake in shares of Appian by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock worth $32,071,000 after purchasing an additional 14,710 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Appian by 14.7% during the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Appian by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company's stock worth $165,839,000 after purchasing an additional 23,890 shares during the last quarter. Institutional investors own 52.70% of the company's stock.

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.