Abdiel Capital Advisors, Lp Sells 73,166 Shares of Appian Co. (NASDAQ:APPN) Stock

Abdiel Capital Advisors, Lp sold 73,166 shares of Appian Co. (NASDAQ:APPN) stock on May 27th at an average price of $31.71, totaling $2,320,093.86. This sale reduced their ownership by 0.80%, leaving them with 9,125,835 shares valued at approximately $289.38 million. The transaction was disclosed to the SEC, as required for major shareholders. Abdiel Capital has made several other sales recently, with the stock currently trading at $31.31, having a market cap of $2.32 billion and a P/E ratio of -24.85.

Appian Co. (NASDAQ:APPN - Get Free Report) major shareholder Abdiel Capital Advisors, Lp sold 73,166 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $31.71, for a total value of $2,320,093.86. Following the completion of the sale, the insider now owns 9,125,835 shares in the company, valued at approximately $289,380,227.85. This represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

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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 Wednesday, May 28th, Abdiel Capital Advisors, Lp sold 4,670 shares of Appian stock. The shares were sold at an average price of $31.51, for a total value of $147,151.70.
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 0.3%

Shares of APPN stock opened at $31.31 on Friday. Appian Co. has a 1-year low of $24.00 and a 1-year high of $43.33. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -24.85 and a beta of 1.83. The stock's fifty day simple moving average is $29.78 and its 200-day simple moving average is $32.89.

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Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates 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 company posted ($0.24) earnings per share. Appian's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that Appian Co. will post -0.28 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APPN. Barclays lifted their price target on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. Morgan Stanley lifted their target price on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Scotiabank decreased their target price on Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Citigroup lifted their target price on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, DA Davidson lifted their target price on Appian from $28.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $36.29.

Get Our Latest Report on APPN

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Appian by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company's stock valued at $165,839,000 after buying an additional 23,890 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Appian by 347,121.5% during the first quarter. Jones Financial Companies Lllp now owns 1,579,858 shares of the company's stock valued at $45,516,000 after buying an additional 1,579,403 shares in the last quarter. Lead Edge Capital Management LLC grew its holdings in shares of Appian by 5.7% during the fourth quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company's stock valued at $50,396,000 after buying an additional 83,000 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Appian by 7.1% during the fourth quarter. First Trust Advisors LP now owns 1,263,405 shares of the company's stock valued at $41,667,000 after buying an additional 83,708 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Appian by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock valued at $32,071,000 after buying an additional 14,710 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

About Appian

(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.