Appian (NASDAQ:APPN) Shares Up 4.2% After Insider Buying Activity

Appian Co. (NASDAQ:APPN)’s stock price shot up 4.2% during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $33.59 and last traded at $33.38. 49,300 shares were traded during mid-day trading, a decline of 90% from the average session volume of 504,469 shares. The stock had previously closed at $32.02.

Specifically, Director Albert G.W. Biddle III bought 3,225 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $28.02 per share, with a total value of $90,364.50. Following the transaction, the director now directly owns 19,689 shares in the company, valued at $551,685.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Albert G.W. Biddle III bought 3,225 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $28.02 per share, with a total value of $90,364.50. Following the transaction, the director now directly owns 19,689 shares in the company, valued at $551,685.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp bought 60,722 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was purchased at an average cost of $31.34 per share, with a total value of $1,903,027.48. Following the completion of the transaction, the insider now owns 6,426,026 shares in the company, valued at $201,391,654.84. The disclosure for this purchase can be found here. Insiders bought a total of 538,947 shares of company stock valued at $16,689,892 in the last three months. 44.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on APPN shares. KeyCorp decreased their price objective on Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Barclays cut 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. Citigroup increased 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. Finally, William Blair reissued an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.43.

Appian Stock Down 1.1 %

The stock has a market capitalization of $2.35 billion, a PE ratio of -22.10 and a beta of 1.48. The firm has a 50 day moving average of $30.34 and a two-hundred day moving average of $33.79. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68.

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

Hedge Funds Weigh In On Appian

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Appian by 3.4% during the third quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after buying an additional 147,785 shares in the last quarter. Hawk Ridge Capital Management LP increased its position in Appian by 14.5% during the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after buying an additional 236,230 shares in the last quarter. Roubaix Capital LLC purchased a new position in Appian during the fourth quarter worth $2,190,000. SG Americas Securities LLC purchased a new position in Appian during the fourth quarter worth $308,000. Finally, GSA Capital Partners LLP purchased a new position in Appian during the first quarter worth $1,708,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

About Appian

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.