Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Acquires 60,722 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 60,722 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was bought at an average cost of $31.34 per share, with a total value of $1,903,027.48. Following the purchase, the insider now owns 6,426,026 shares of the company’s stock, valued at approximately $201,391,654.84. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Abdiel Capital Advisors, Lp also recently made the following trade(s):

• On Friday, July 5th, Abdiel Capital Advisors, Lp purchased 475,000 shares of Appian stock. The stock was bought at an average cost of $30.94 per share, with a total value of $14,696,500.00.

Appian Stock Down 1.1 %

Shares of NASDAQ:APPN opened at $32.49 on Friday. The business’s 50 day simple moving average is $30.34 and its two-hundred day simple moving average is $33.79. The firm has a market cap of $2.35 billion, a P/E ratio of -22.10 and a beta of 1.48. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.33 and a current ratio of 1.33. Appian Co. has a 52-week low of $26.28 and a 52-week high of $52.99.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The firm had revenue of $149.80 million during the quarter, compared to the consensus estimate of $149.78 million. Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.42) EPS. As a group, research analysts forecast that Appian Co. will post -1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in APPN. Headlands Technologies LLC bought a new position in Appian in the fourth quarter worth approximately $47,000. Concord Wealth Partners bought a new position in shares of Appian in the first quarter valued at approximately $85,000. Quest Partners LLC bought a new position in shares of Appian in the fourth quarter valued at approximately $177,000. Victory Capital Management Inc. lifted its holdings in shares of Appian by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after purchasing an additional 1,027 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Appian in the fourth quarter valued at approximately $210,000. Institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. KeyCorp decreased their price target on Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Citigroup raised their target price on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. William Blair reaffirmed an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. Finally, Barclays decreased their target price on Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $46.43.

Appian Company Profile

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.