Abdiel Capital Advisors, Lp Purchases 20,014 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 20,014 shares of the stock in a transaction on Thursday, September 5th. The stock was acquired at an average price of $31.21 per share, with a total value of $624,636.94. Following the acquisition, the insider now directly owns 9,988,095 shares in the company, valued at $311,728,444.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, September 9th, Abdiel Capital Advisors, Lp bought 23,053 shares of Appian stock. The stock was bought at an average price of $30.22 per share, with a total value of $696,661.66.
• On Wednesday, August 28th, Abdiel Capital Advisors, Lp purchased 23,126 shares of Appian stock. The shares were bought at an average cost of $31.24 per share, for a total transaction 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, with a total value of $330,096.00.
• On Friday, August 23rd, Abdiel Capital Advisors, Lp bought 19,879 shares of Appian stock. The stock was purchased at an average price of $31.55 per share, for a total transaction of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp purchased 25,000 shares of Appian stock. The shares were purchased at an average price of $31.17 per share, with a total value of $779,250.00.
• On Monday, August 19th, Abdiel Capital Advisors, Lp acquired 25,205 shares of Appian stock. The stock was purchased at an average cost of $31.10 per share, for a total transaction of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp bought 266,976 shares of Appian stock. The shares were acquired at an average cost of $30.50 per share, with a total value of $8,142,768.00.
• On Wednesday, August 14th, Abdiel Capital Advisors, Lp acquired 274,583 shares of Appian stock. The shares were acquired at an average price of $30.05 per share, with a total value of $8,251,219.15.
• On Monday, August 12th, Abdiel Capital Advisors, Lp bought 53,000 shares of Appian stock. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $1,479,760.00.
• On Friday, August 9th, Abdiel Capital Advisors, Lp purchased 75,000 shares of Appian stock. The shares were acquired at an average cost of $28.15 per share, with a total value of $2,111,250.00.

Appian Stock Performance

Appian stock opened at $31.40 on Wednesday. Appian Co. has a 52 week low of $26.28 and a 52 week high of $51.92. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.68. The stock has a market cap of $2.27 billion, a P/E ratio of -21.36 and a beta of 1.56. The stock has a 50 day moving average of $32.14 and a 200-day moving average of $33.14.

Appian (NASDAQ:APPN) last announced 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. The company had revenue of $146.50 million during the quarter, compared to analyst estimates of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the business earned ($0.55) EPS. On average, analysts expect that Appian Co. will post -1.07 EPS for the current fiscal year.

Institutional Trading of Appian

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Appian by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after acquiring an additional 392,190 shares in the last quarter. First Trust Advisors LP boosted its holdings in Appian by 31.6% in the fourth quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after purchasing an additional 317,411 shares during the period. Norges Bank bought a new stake in Appian during the fourth quarter valued at $10,534,000. Empyrean Capital Partners LP bought a new stake in Appian during the second quarter valued at $7,715,000. Finally, Hawk Ridge Capital Management LP raised its holdings in shares of 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 purchasing an additional 236,230 shares during the period. Institutional investors and hedge funds own 52.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.