Appian Corp (NASDAQ:APPN) major shareholder Abdiel Capital Management, Llc sold 16,782 shares of Appian stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $36.40, for a total value of $610,864.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
NASDAQ:APPN traded down $0.74 during trading hours on Thursday, reaching $38.55. The company had a trading volume of 387,920 shares, compared to its average volume of 522,824. Appian Corp has a 1-year low of $22.61 and a 1-year high of $41.53. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -48.19 and a beta of 1.40. The stock has a 50 day moving average price of $36.94.
Appian (NASDAQ:APPN) last released its earnings results on Thursday, May 2nd. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.16). Appian had a negative return on equity of 91.41% and a negative net margin of 24.48%. The company had revenue of $59.58 million during the quarter, compared to analyst estimates of $59.71 million. During the same quarter in the prior year, the company earned ($0.12) earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, research analysts forecast that Appian Corp will post -0.83 EPS for the current year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Appian from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Barclays reaffirmed a “hold” rating and set a $32.00 target price on shares of Appian in a report on Sunday, May 5th. BidaskClub downgraded Appian from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. William Blair raised Appian from a “market perform” rating to an “outperform” rating and set a $35.10 target price for the company in a report on Thursday, May 16th. Finally, Morgan Stanley raised Appian from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $30.00 to $36.00 in a report on Thursday, May 23rd. They noted that the move was a valuation call. 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 company. The stock currently has an average rating of “Hold” and an average price target of $33.59.
Appian Company Profile
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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