Appian Co. (NASDAQ:APPN) Major Shareholder Buys $679,192.80 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 21,769 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was acquired at an average price of $31.20 per share, with a total value of $679,192.80. Following the purchase, the insider now directly owns 10,070,799 shares in the company, valued at approximately $314,208,928.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large 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 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 purchased 20,014 shares of Appian stock. The stock was acquired at an average cost of $31.21 per share, for a total transaction of $624,636.94.
• On Wednesday, August 28th, Abdiel Capital Advisors, Lp acquired 23,126 shares of Appian stock. The shares were bought at an average price of $31.24 per share, for a total transaction of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp bought 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 purchased 19,879 shares of Appian stock. The stock was bought 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 acquired 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 bought 25,205 shares of Appian stock. The stock was purchased at an average price of $31.10 per share, for a total transaction of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp purchased 266,976 shares of Appian stock. The shares were purchased at an average price 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 purchased at an average cost of $30.05 per share, for a total transaction of $8,251,219.15.
• On Monday, August 12th, Abdiel Capital Advisors, Lp purchased 53,000 shares of Appian stock. The stock was acquired at an average price of $27.92 per share, for a total transaction of $1,479,760.00.

Appian Stock Up 4.4 %

Shares of NASDAQ:APPN opened at $32.87 on Friday. The firm has a market capitalization of $2.38 billion, a PE ratio of -22.36 and a beta of 1.56. The business has a 50 day simple moving average of $32.21 and a two-hundred day simple moving average of $33.11. Appian Co. has a 1 year low of $26.28 and a 1 year high of $47.72. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.24 and a quick 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $142.87 million. During the same quarter in the previous year, the business earned ($0.55) EPS. Appian’s revenue was up 14.7% compared to the same quarter last year. On average, equities analysts predict that Appian Co. will post -1.07 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC boosted its position in Appian by 7.7% in the 2nd quarter. Algert Global LLC now owns 50,263 shares of the company’s stock valued at $1,551,000 after buying an additional 3,614 shares during the period. The Manufacturers Life Insurance Company grew its stake in Appian by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock worth $648,000 after purchasing an additional 689 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in Appian during the 2nd quarter worth $433,000. Empyrean Capital Partners LP bought a new stake in Appian during the 2nd quarter valued at $7,715,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Appian by 25.8% in the 2nd quarter. AQR Capital Management LLC now owns 78,150 shares of the company’s stock worth $2,412,000 after buying an additional 16,031 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.