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Abdiel Capital Advisors, LP, along with related entities, sold shares of Appian Corp (NASDAQ:APPN) worth approximately $3.8 million, according to a Form 4 filing with the Securities and Exchange Commission. The sales occurred on July 14 and July 16, at prices ranging from $28.81 to $30.12. The software company, currently valued at $2.14 billion, has shown impressive gross profit margins of 76% and revenue growth of ~13% over the last twelve months. According to InvestingPro analysis, the stock appears fairly valued at current levels.
On July 14, Abdiel Qualified Master Fund, LP, disposed of 6,666 shares at a weighted average price of $30.12, and Abdiel Capital, LP, sold 321 shares at the same price.
On July 16, Abdiel Qualified Master Fund, LP, sold 119,274 shares at a weighted average price of $28.81, while Abdiel Capital, LP, disposed of 5,726 shares at the same price. Following these transactions, Abdiel Qualified Master Fund, LP, Abdiel Capital, LP and Abdiel Partners, LLC, continue to hold an aggregate of 6,807,813 shares.
Colin T. Moran, in his capacity as managing member of Abdiel Capital Partners (WA:CPAP), LLC, Abdiel Capital Management, LLC, and individually, signed off on the report.
In other recent news, Appian Corporation reported its first-quarter 2025 financial results, revealing a mixed performance. The company posted a slight miss on earnings per share with a loss of $0.02 against a forecasted gain of $0.01. However, revenue reached $166.4 million, surpassing expectations and reflecting an 11% year-over-year increase. Appian’s cloud subscription revenue grew by 15% from the previous year, contributing significantly to the positive revenue surprise. Citi analyst Steven Enders responded to these results by raising the stock price target to $41, maintaining a Buy rating due to the company’s strong federal bookings growth and advancements in AI monetization.
Appian also announced a $10 million stock repurchase program, authorized by the Board of Directors, to be executed from May 2025 through the end of the year. This program aims to offset stock issuance related to employee compensation plans. Additionally, Appian has been recognized as a leader in AI-enabled claims management systems by Everest Group, following the launch of its Connected Claims 2.0 solution, which aims to streamline insurance claims processing with AI-driven automation. The company further strengthened its sales leadership team in the UK and EMEA regions, appointing new executives to drive revenue growth and expand market leadership.
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