Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $346,443.75 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 10,265 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were bought at an average price of $33.75 per share, for a total transaction of $346,443.75. Following the purchase, the insider now directly owns 10,179,538 shares of the company’s stock, valued at $343,559,407.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Wednesday, September 25th, Abdiel Capital Advisors, Lp purchased 1,712 shares of Appian stock. The shares were purchased at an average price of $32.91 per share, for a total transaction of $56,341.92.
• On Monday, September 23rd, Abdiel Capital Advisors, Lp acquired 15,552 shares of Appian stock. The stock was purchased at an average price of $33.08 per share, with a total value of $514,460.16.
• On Friday, September 20th, Abdiel Capital Advisors, Lp bought 7,957 shares of Appian stock. The shares were purchased at an average cost of $33.55 per share, for a total transaction of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp purchased 11,798 shares of Appian stock. The stock was acquired at an average cost of $33.25 per share, with a total value of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The stock was acquired 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 acquired at an average price of $32.73 per share, with a total value 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 acquired 23,053 shares of Appian stock. The shares were bought 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 bought 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 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.

Appian Trading Down 0.1 %

Shares of NASDAQ APPN traded down $0.05 during mid-day trading on Thursday, hitting $34.00. The company’s stock had a trading volume of 321,041 shares, compared to its average volume of 547,942. The company’s fifty day simple moving average is $32.00 and its 200-day simple moving average is $32.95. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -23.13 and a beta of 1.56. Appian Co. has a one year low of $26.28 and a one year high of $44.44. 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 announced its earnings results 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 net margin of 18.80% and a negative return on equity of 532.05%. The firm 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 company posted ($0.55) EPS. The business’s quarterly revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts anticipate that Appian Co. will post -1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Appian

Several hedge funds have recently added to or reduced their stakes in APPN. SG Americas Securities LLC acquired a new stake in Appian during the third quarter worth about $398,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of 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 acquiring an additional 1,088 shares during the last quarter. Algert Global LLC boosted its position in Appian by 7.7% during the second quarter. Algert Global LLC now owns 50,263 shares of the company’s stock valued at $1,551,000 after acquiring an additional 3,614 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Appian by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock valued at $648,000 after acquiring an additional 689 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Appian during the second quarter valued at about $433,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.