Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Purchases 15,552 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 15,552 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price of $33.08 per share, for a total transaction of $514,460.16. Following the completion of the transaction, the insider now owns 10,142,000 shares in the company, valued at $335,497,360. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 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 Wednesday, September 25th, Abdiel Capital Advisors, Lp bought 1,712 shares of Appian stock. The shares were bought at an average price of $32.91 per share, for a total transaction of $56,341.92.
• 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, for a total transaction of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp bought 11,798 shares of Appian stock. The shares were bought 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 bought 1,486 shares of Appian stock. The shares were bought at an average price of $32.98 per share, for a total transaction of $49,008.28.
• On Friday, September 13th, Abdiel Capital Advisors, Lp bought 7,501 shares of Appian stock. The shares were bought at an average price 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 shares were bought at an average price 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, 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 cost 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 cost of $31.24 per share, with a total value of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp bought 10,400 shares of Appian stock. The shares were acquired at an average cost of $31.74 per share, with a total value of $330,096.00.

Appian Stock Up 5.2 %

Shares of APPN stock traded up $1.70 during mid-day trading on Wednesday, reaching $34.27. 384,567 shares of the company were exchanged, compared to its average volume of 554,745. Appian Co. has a fifty-two week low of $26.28 and a fifty-two 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. The company has a market capitalization of $2.48 billion, a P/E ratio of -23.31 and a beta of 1.56. The business’s 50 day simple moving average is $32.20 and its 200 day simple moving average is $33.00.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. During the same quarter last year, the company earned ($0.55) earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. Research analysts predict that Appian Co. will post -1.07 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Trading of Appian

A number of hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. lifted its stake in Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after purchasing an additional 1,088 shares during the last quarter. Algert Global LLC lifted its stake in Appian by 7.7% in the second 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 last quarter. The Manufacturers Life Insurance Company lifted 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 valued at $648,000 after buying an additional 689 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in Appian in the second quarter valued at $433,000. Finally, Empyrean Capital Partners LP bought a new stake in Appian in the second quarter valued at $7,715,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

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.