Insider Selling: Appian Co. (NASDAQ:APPN) Major Shareholder Sells 57,975 Shares of 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 transaction, the insider now owns 10,121,563 shares of the company’s stock, valued at $298,788,539.76. This represents a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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, 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 Trading Down 5.5 %

Shares of NASDAQ:APPN opened at $26.40 on Friday. The company has a 50 day moving average of $32.07 and a 200-day moving average of $34.07. The firm has a market cap of $1.95 billion, a P/E ratio of -20.95 and a beta of 1.78. Appian Co. has a twelve month low of $25.77 and a twelve month high of $43.33.

Appian (NASDAQ:APPN) last released its earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 million. During the same quarter last year, the company earned $0.06 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities research analysts forecast that Appian Co. will post -0.28 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Appian by 9.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,836 shares of the company’s stock valued at $2,897,000 after acquiring an additional 7,594 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in Appian by 222.6% during the fourth quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company’s stock valued at $6,034,000 after purchasing an additional 126,256 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Appian by 60.5% during the fourth quarter. Squarepoint Ops LLC now owns 25,546 shares of the company’s stock valued at $843,000 after purchasing an additional 9,630 shares during the last quarter. Twinbeech Capital LP bought a new stake in Appian during the fourth quarter worth approximately $2,403,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Appian in the fourth quarter worth approximately $320,000. 52.70% of the stock is owned by institutional investors and hedge funds.

Appian Company Profile

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.