Short Opportunity For Recent IPO Appian

November 21, 2017 concludes the 180-day lockup period on Appian Corporation (APPN).

When the lockup period ends for APPN, its pre-IPO shareholders, directors, and executives will have the chance to sell their 52.4 million currently restricted outstanding shares. Just 6.25 million shares of APPN are currently trading on the open market.

(Source: S-1/A)

APPN’s group of restricted shareholders is comprised of 11 individuals and 2 venture capital firms.

(Source: S-1/A)

The potential for a sudden increase in stock available in the open market could cause a sudden, sharp, short-term downturn in the price of Appian Corporation shares.

Currently, APPN trades in the $23 to $24 range, above its IPO price of $12 and higher than its first day closing price of $15.01 on May 25, 2017.

Business Overview: Provider of Low-Code Software Development Platform

Appian Corporation offers a low-code software development platform that enables companies to easily develop applications. The platform automates much of the process for creating forms, records, data flows, reports, and other software elements that must be manually coded or configured. Its primary software markets include the markets for case management software, low-code development platforms, platform-as-a-service, and business process management. In addition, Appian offers professional and customer support services. The industries it serves include transportation, manufacturing, energy, media, telecommunications, government, healthcare, financial services, and others.

(Source: S-1/A)

Appian’s clients include the U.S. Department of Homeland Security, U.S. Food and Drug Administration, Cigna, Pacific Life, Pirelli, University of South Florida, Barclays, Fidelity, and Vermont Mutual Group. Appian was founded in 1999 and is headquartered in Reston, Virginia. The company has approximately 1,000 employees.

Financial Highlights

Appian reported the following financial highlights for the third quarter ended September 30:

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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