Insider Selling: Appian Co. (NASDAQ:APPN) Major Shareholder Sells 125,615 Shares of Stock

Abdiel Capital Advisors, a major shareholder of Appian Co. (NASDAQ:APPN), sold 125,615 shares at an average price of $31.80, totaling approximately $3.99 million. This sale reduced their ownership by 1.49%, leaving them with 8,304,776 shares valued at about $264 million. The transaction was disclosed to the SEC. In recent trades, Abdiel sold additional shares, with the latest transactions occurring between May 20 and June 6, totaling over $30 million in sales. Appian's stock is currently trading around $32.18, with a market cap of $2.38 billion.

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 125,615 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $31.80, for a total transaction of $3,994,557.00. Following the completion of the sale, the insider now owns 8,304,776 shares of the company's stock, valued at $264,091,876.80. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Beyond the Magnificent 7: Tech’s Rising Stars

Abdiel Capital Advisors, Lp also recently made the following trade(s):

On Friday, June 6th, Abdiel Capital Advisors, Lp sold 225,720 shares of Appian stock. The stock was sold at an average price of $32.21, for a total transaction of $7,270,441.20.
On Thursday, June 5th, Abdiel Capital Advisors, Lp sold 225,615 shares of Appian stock. The stock was sold at an average price of $32.15, for a total transaction of $7,253,522.25.
On Tuesday, June 3rd, Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock. The shares were sold at an average price of $31.83, for a total value of $9,549,000.00.
On Monday, June 2nd, Abdiel Capital Advisors, Lp sold 37,437 shares of Appian stock. The stock was sold at an average price of $31.43, for a total transaction of $1,176,644.91.
On Friday, May 30th, Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock. The stock was sold at an average price of $31.47, for a total transaction of $9,441,000.00.
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 Wednesday, May 28th, Abdiel Capital Advisors, Lp sold 4,670 shares of Appian stock. The stock was sold at an average price of $31.51, for a total value of $147,151.70.
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 transaction 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.

Appian Price Performance

Shares of APPN traded up $0.38 during midday trading on Friday, reaching $32.18. 620,549 shares of the stock were exchanged, compared to its average volume of 563,255. The business's 50-day moving average price is $29.90 and its 200 day moving average price is $32.66. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -25.54 and a beta of 1.83. Appian Co. has a twelve month low of $24.00 and a twelve month high of $43.33.

UiPath: Has the Bar Been Set Too Low for This AI Robotic Leader?

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. The company had revenue of $166.43 million for 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) EPS. As a group, equities research analysts expect that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in Appian during the fourth quarter worth about $35,000. Concord Wealth Partners boosted its holdings in Appian by 21.7% in the first quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock valued at $74,000 after purchasing an additional 461 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after buying an additional 500 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Appian by 2,052.0% in the 1st quarter. Headlands Technologies LLC now owns 4,218 shares of the company's stock worth $122,000 after purchasing an additional 4,022 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after buying an additional 3,498 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on APPN. DA Davidson raised their price target on Appian from $28.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Citigroup upped their price target on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Barclays upped their target price on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a report on Friday, May 9th. Scotiabank cut their price objective on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Finally, Morgan Stanley increased their price target on shares of Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. 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.com, the company currently has an average rating of "Hold" and a consensus target price of $36.29.

Read Our Latest Research Report on APPN

Appian Company Profile

(Get Free Report)

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.

Should You Invest $1,000 in Appian Right Now?

Before you consider Appian, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Appian wasn't on the list.

While Appian currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here