Abdiel Capital Advisors, Lp Sells 125,615 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPNGet Free Report) major shareholder Abdiel Capital Advisors, Lp sold 125,615 shares of Appian stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $31.80, for a total value of $3,994,557.00. Following the transaction, the insider now directly owns 8,304,776 shares in the company, valued at approximately $264,091,876.80. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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 shares were 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 stock was sold at an average price of $31.83, for a total transaction of $9,549,000.00.
  • On Monday, June 2nd, Abdiel Capital Advisors, Lp sold 37,437 shares of Appian stock. The shares were 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 shares were 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 stock was sold at an average price of $31.45, for a total transaction 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 Tuesday, May 27th, Abdiel Capital Advisors, Lp sold 73,166 shares of Appian stock. The stock was 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 stock was 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 stock was sold at an average price of $32.20, for a total value of $4,830,000.00.

Appian Stock Performance

Shares of APPN opened at $32.18 on Friday. The stock has a market capitalization of $2.39 billion, a PE ratio of -25.54 and a beta of 1.75. The company’s fifty day moving average is $29.97 and its 200 day moving average is $32.61. Appian Co. has a fifty-two week low of $24.00 and a fifty-two week high of $43.33.

Appian (NASDAQ:APPNGet Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 14.95% and a negative return on equity of 532.05%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted ($0.24) EPS. As a group, research analysts forecast that Appian Co. will post -0.28 earnings per share for the current year.

Analysts Set New Price Targets

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

View Our Latest Analysis on Appian

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its position in 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 purchasing an additional 1,579,403 shares during the period. Hawk Ridge Capital Management LP purchased a new position in shares of Appian in the 1st quarter worth approximately $7,557,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Appian during the 1st quarter valued at approximately $7,166,000. AQR Capital Management LLC raised its holdings in Appian by 368.8% during the 1st quarter. AQR Capital Management LLC now owns 199,869 shares of the company’s stock valued at $5,758,000 after buying an additional 157,233 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Appian in the fourth quarter worth $4,918,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.

See Also

Insider Buying and Selling by Quarter for Appian (NASDAQ:APPN)

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