Appian Co. (NASDAQ:APPN) is Abdiel Capital Advisors LP’s 2nd Largest Position

by · The Cerbat Gem

Abdiel Capital Advisors LP boosted its position in Appian Co. (NASDAQ:APPN – Free Report) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,179,538 shares of the company’s stock after purchasing an additional 10,265 shares during the quarter. Appian accounts for about 20.7% of Abdiel Capital Advisors LP’s holdings, making the stock its 2nd largest holding. Abdiel Capital Advisors LP owned about 0.12% of Appian worth $335,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in APPN. Oppenheimer & Co. Inc. grew its holdings in Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock worth $270,000 after acquiring an additional 400 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Appian by 27.8% in the 4th 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 during the last quarter. Handelsbanken Fonder AB increased its stake in shares of Appian by 14.7% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock valued at $284,000 after buying an additional 1,100 shares during the period. MetLife Investment Management LLC lifted its stake in Appian by 8.0% in the fourth quarter. MetLife Investment Management LLC now owns 24,325 shares of the company’s stock worth $802,000 after acquiring an additional 1,809 shares during the period. Finally, Barclays PLC raised its holdings in Appian by 4.5% in the 4th quarter. Barclays PLC now owns 75,023 shares of the company’s stock worth $2,474,000 after purchasing an additional 3,252 shares in the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APPN has been the topic of a number of research analyst reports. Barclays reduced their target price on Appian from $37.00 to $28.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. DA Davidson decreased their target price on shares of Appian from $40.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Citigroup dropped their price target on Appian from $53.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. KeyCorp reiterated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Finally, Morgan Stanley cut their price objective on shares of Appian from $35.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.14.

Get Our Latest Report on Appian

Insider Buying and Selling

In other news, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the sale, the director now directly owns 29,348 shares in the company, valued at approximately $974,647.08. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock in a transaction on 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 sale, the insider now directly owns 10,121,563 shares of the company’s stock, valued at approximately $298,788,539.76. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 240,510 shares of company stock worth $6,648,635. 44.00% of the stock is owned by corporate insiders.

Appian Price Performance

Shares of APPN stock opened at $31.32 on Monday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -24.86 and a beta of 1.78. The stock’s fifty day moving average price is $29.82 and its 200 day moving average price is $33.35. Appian Co. has a 1-year low of $24.00 and a 1-year high of $43.33.

Appian (NASDAQ:APPN – Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $166.70 million for the quarter, compared to analyst estimates of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. Appian’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. As a group, equities research analysts anticipate that Appian Co. will post -0.28 earnings per share for the current year.

Appian Profile

(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

Want to see what other hedge funds are holding APPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Appian Co. (NASDAQ:APPN – Free Report).