Appian Co. (NASDAQ:APPN) Major Shareholder Sells $3,288,725.55 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 100,665 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $32.67, for a total value of $3,288,725.55. Following the completion of the transaction, the insider now directly owns 9,514,401 shares in the company, valued at $310,835,480.67. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 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 value of $5,356,240.00.
• 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 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.
• 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 value 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 Stock Down 0.9%

Shares of NASDAQ APPN traded down $0.30 during midday trading on Monday, hitting $32.24. 498,698 shares of the company’s stock were exchanged, compared to its average volume of 559,057. The firm has a market capitalization of $2.39 billion, a PE ratio of -25.59 and a beta of 1.83. The company’s 50 day moving average price is $29.56 and its 200 day moving average price is $33.30. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. The business had revenue of $166.43 million during the quarter, compared to analysts’ expectations of $163.27 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.24) EPS. On average, equities research analysts anticipate that Appian Co. will post -0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on APPN shares. 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. Citigroup raised their price target on Appian from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Morgan Stanley raised their price target on Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Barclays raised their price target on Appian from $28.00 to $33.00 and gave the company an “underweight” rating in a research note on Friday, May 9th. Finally, DA Davidson lifted their target price on Appian from $28.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.29.

Institutional Trading of Appian

Several hedge funds have recently added to or reduced their stakes in APPN. Barclays PLC raised its holdings in Appian by 285.9% in the 3rd quarter. Barclays PLC now owns 71,771 shares of the company’s stock valued at $2,451,000 after acquiring an additional 53,172 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Appian in the 4th quarter valued at $1,688,000. Geode Capital Management LLC raised its holdings in Appian by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock valued at $32,071,000 after acquiring an additional 14,710 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Appian by 14.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock valued at $284,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Appian by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company’s stock valued at $165,839,000 after acquiring an additional 23,890 shares in the last quarter. 52.70% of the stock is owned by institutional investors and hedge funds.

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.