Appian Co. (NASDAQ:APPN) Major Shareholder Sells $1,711,422.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total transaction of $1,711,422.00. Following the completion of the transaction, the insider now owns 10,121,563 shares in the company, valued at approximately $298,788,539.76. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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, 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 transaction of $2,080,206.72.

Appian Stock Down 5.5 %

Shares of APPN stock opened at $26.40 on Monday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -20.95 and a beta of 1.78. Appian Co. has a 52-week low of $25.21 and a 52-week high of $43.33. The company’s 50 day moving average is $32.07 and its 200 day moving average is $34.07.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate 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 company had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. Analysts anticipate that Appian Co. will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in Appian during the fourth quarter valued at approximately $35,000. Canada Pension Plan Investment Board lifted its holdings in shares of Appian by 27.8% during 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. Russell Investments Group Ltd. lifted its holdings in shares of Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock valued at $125,000 after purchasing an additional 3,498 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Appian in the 4th quarter worth $181,000. Finally, FMR LLC grew its stake in Appian by 199.4% during the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after buying an additional 3,953 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

APPN has been the subject of several research analyst reports. Scotiabank initiated coverage on shares of Appian in a research note on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target for the company. KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Appian presently has a consensus rating of “Hold” and a consensus price target of $37.80.

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.