Appian Co. (NASDAQ:APPN) Major Shareholder Buys $392,283.50 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 11,798 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average price of $33.25 per share, with a total value of $392,283.50. Following the acquisition, the insider now directly owns 10,111,445 shares of the company’s stock, valued at approximately $336,205,546.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more 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 Friday, September 20th, Abdiel Capital Advisors, Lp bought 7,957 shares of Appian stock. The shares were bought at an average price of $33.55 per share, with a total value of $266,957.35.
• On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The shares were bought 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 purchased 7,501 shares of Appian stock. The stock was bought 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 purchased 21,769 shares of Appian stock. The stock was bought at an average cost of $31.20 per share, for a total transaction 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 cost of $30.22 per share, for a total transaction 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 cost of $31.21 per share, for a total transaction 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 cost of $31.24 per share, for a total transaction of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp purchased 10,400 shares of Appian stock. The stock was purchased 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 purchased 19,879 shares of Appian stock. The stock was purchased at an average cost 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 stock was purchased at an average cost of $31.17 per share, for a total transaction of $779,250.00.

Appian Stock Performance

APPN stock traded down $0.34 during trading on Friday, reaching $33.41. The stock had a trading volume of 656,200 shares, compared to its average volume of 558,450. Appian Co. has a 52 week low of $26.28 and a 52 week high of $46.56. The stock’s 50 day moving average is $32.29 and its two-hundred day moving average is $33.07. 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 firm has a market cap of $2.41 billion, a PE ratio of -22.73 and a beta of 1.56.

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

Institutional Investors Weigh In On Appian

A number of institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. grew its holdings in shares of Appian by 3.0% in the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock valued at $299,000 after purchasing an additional 280 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Appian by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock valued at $648,000 after purchasing an additional 689 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Appian by 10.0% in the first quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock valued at $333,000 after purchasing an additional 758 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Appian by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after purchasing an additional 1,027 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after purchasing an additional 1,088 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on APPN. KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Barclays dropped their target price on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a 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. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group lowered their price target on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.