Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $56,341.92 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 1,712 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was bought at an average price of $32.91 per share, with a total value of $56,341.92. Following the completion of the purchase, the insider now owns 10,169,273 shares of the company’s stock, valued at approximately $334,670,774.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, September 23rd, Abdiel Capital Advisors, Lp purchased 15,552 shares of Appian stock. The stock was bought at an average price of $33.08 per share, with a total value of $514,460.16.
• On Friday, September 20th, Abdiel Capital Advisors, Lp purchased 7,957 shares of Appian stock. The stock was bought at an average price of $33.55 per share, with a total value of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp bought 11,798 shares of Appian stock. The shares were acquired at an average price of $33.25 per share, with a total value of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The shares were acquired at an average price of $32.98 per share, with a total value of $49,008.28.
• On Friday, September 13th, Abdiel Capital Advisors, Lp bought 7,501 shares of Appian stock. The shares were acquired at an average price of $32.73 per share, with a total value of $245,507.73.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp bought 21,769 shares of Appian stock. The shares were acquired at an average price of $31.20 per share, with a total value of $679,192.80.
• On Monday, September 9th, Abdiel Capital Advisors, Lp bought 23,053 shares of Appian stock. The shares were acquired at an average price of $30.22 per share, with a total value of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp bought 20,014 shares of Appian stock. The shares were acquired at an average price of $31.21 per share, with a total value of $624,636.94.
• On Wednesday, August 28th, Abdiel Capital Advisors, Lp bought 23,126 shares of Appian stock. The shares were acquired at an average price of $31.24 per share, with a total value of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp purchased 10,400 shares of Appian stock. The shares were bought at an average price of $31.74 per share, with a total value of $330,096.00.

Appian Price Performance

APPN stock opened at $34.94 on Friday. The company has a fifty day moving average price of $32.17 and a 200-day moving average price of $33.02. The company has a market capitalization of $2.52 billion, a P/E ratio of -23.77 and a beta of 1.56. Appian Co. has a 52-week low of $26.28 and a 52-week high of $46.56. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.05. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The company had revenue of $146.50 million during the quarter, compared to analysts’ expectations of $142.87 million. During the same period in the prior year, the company posted ($0.55) earnings per share. Appian’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts expect that Appian Co. will post -1.07 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. DA Davidson cut Appian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. William Blair downgraded shares of Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group decreased their price target on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. Finally, Barclays dropped their price target on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.20.

Institutional Investors Weigh In On Appian

Large investors have recently modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in shares of Appian during the second quarter worth $65,000. Concord Wealth Partners acquired a new stake in shares of Appian during the first quarter worth $85,000. Canada Pension Plan Investment Board acquired a new stake in shares of Appian during the second quarter worth $96,000. nVerses Capital LLC acquired a new stake in shares of Appian during the second quarter worth $105,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Appian in the second quarter worth $121,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.