Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $266,957.35 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 7,957 shares of the company’s stock in a transaction on Friday, September 20th. The shares were bought at an average cost of $33.55 per share, with a total value of $266,957.35. Following the acquisition, the insider now directly owns 10,126,448 shares in the company, valued at $339,742,330.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 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 Wednesday, September 18th, Abdiel Capital Advisors, Lp bought 11,798 shares of Appian stock. The stock was purchased at an average price of $33.25 per share, for a total transaction of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp purchased 1,486 shares of Appian stock. The shares were purchased 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 acquired 7,501 shares of Appian stock. The shares were purchased at an average cost of $32.73 per share, for a total transaction of $245,507.73.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp bought 21,769 shares of Appian stock. The stock was acquired at an average cost of $31.20 per share, with a total value of $679,192.80.
• On Monday, September 9th, Abdiel Capital Advisors, Lp purchased 23,053 shares of Appian stock. The shares were acquired at an average cost of $30.22 per share, for a total transaction of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp acquired 20,014 shares of Appian stock. The stock was acquired at an average cost of $31.21 per share, with a total value of $624,636.94.
• On Wednesday, August 28th, Abdiel Capital Advisors, Lp purchased 23,126 shares of Appian stock. The stock was acquired at an average cost of $31.24 per share, with a total value of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp acquired 10,400 shares of Appian stock. The shares were bought at an average cost of $31.74 per share, for a total transaction of $330,096.00.
• On Friday, August 23rd, Abdiel Capital Advisors, Lp bought 19,879 shares of Appian stock. The stock was bought at an average price of $31.55 per share, with a total value of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp purchased 25,000 shares of Appian stock. The stock was bought at an average price of $31.17 per share, with a total value of $779,250.00.

Appian Stock Performance

Shares of NASDAQ:APPN opened at $33.41 on Monday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $2.41 billion, a PE ratio of -22.73 and a beta of 1.56. The firm’s 50 day simple moving average is $32.29 and its 200-day simple moving average is $33.05. Appian Co. has a one year low of $26.28 and a one year high of $46.56.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Appian

Hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co raised its holdings in shares of Appian by 70.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after purchasing an additional 196,435 shares in the last quarter. GSA Capital Partners LLP bought a new position in Appian in the first quarter worth approximately $1,708,000. Hawk Ridge Capital Management LP lifted its holdings 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 during the period. Vanguard Group Inc. boosted its position in Appian by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after acquiring an additional 392,190 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Appian in the 2nd quarter valued at $4,657,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

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.