Abdiel Capital Advisors LP Has $157.94 Million Position in Appian Corp (APPN)

Abdiel Capital Advisors LP increased its holdings in Appian Corp (NASDAQ:APPN) by 32.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,017,229 shares of the company’s stock after buying an additional 1,238,992 shares during the quarter. Appian comprises approximately 23.7% of Abdiel Capital Advisors LP’s investment portfolio, making the stock its 2nd largest holding. Abdiel Capital Advisors LP owned 8.32% of Appian worth $157,942,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of APPN. Tower Research Capital LLC TRC grew its stake in shares of Appian by 79.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,133 shares of the company’s stock worth $193,000 after purchasing an additional 2,715 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Appian during the 4th quarter worth approximately $220,000. New York State Common Retirement Fund acquired a new stake in shares of Appian during the 3rd quarter worth approximately $205,000. Rockefeller Financial Services Inc. acquired a new stake in shares of Appian during the 4th quarter worth approximately $420,000. Finally, Virtu Financial LLC acquired a new stake in shares of Appian during the 4th quarter worth approximately $441,000. Institutional investors own 14.22% of the company’s stock.

Appian Corp (NASDAQ APPN) opened at $30.62 on Friday. Appian Corp has a 52-week low of $14.60 and a 52-week high of $43.26.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The business had revenue of $50.60 million for the quarter, compared to analysts’ expectations of $41.78 million. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. equities research analysts expect that Appian Corp will post -0.61 EPS for the current year.

A number of research analysts have recently issued reports on APPN shares. Barclays lowered Appian from an “equal weight” rating to an “underweight” rating and set a $26.00 target price on the stock. in a research report on Monday, January 8th. Canaccord Genuity increased their target price on Appian from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, October 30th. William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research report on Friday, January 19th. They noted that the move was a valuation call. SunTrust Banks started coverage on Appian in a research report on Tuesday, November 21st. They set a “buy” rating and a $28.00 target price on the stock. Finally, Zacks Investment Research upgraded Appian from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $23.57.

In other news, major shareholder Abdiel Capital Management, Llc acquired 5,258 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were bought at an average price of $20.48 per share, for a total transaction of $107,683.84. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Qualified Master Fund L. Abdiel acquired 171,523 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was purchased at an average price of $21.24 per share, for a total transaction of $3,643,148.52. The disclosure for this purchase can be found here. Insiders acquired a total of 512,543 shares of company stock worth $10,557,263 in the last 90 days.

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About Appian

Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.

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Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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