Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Buys $1,220,050.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 32,500 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average price of $37.54 per share, with a total value of $1,220,050.00. Following the completion of the transaction, the insider now owns 7,655,847 shares in the company, valued at $287,400,496.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large 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 Wednesday, July 24th, Abdiel Capital Advisors, Lp bought 82,500 shares of Appian stock. The shares were bought at an average cost of $35.44 per share, for a total transaction of $2,923,800.00.
• On Monday, July 22nd, Abdiel Capital Advisors, Lp purchased 62,500 shares of Appian stock. The stock was purchased at an average price of $34.91 per share, with a total value of $2,181,875.00.
• On Thursday, July 18th, Abdiel Capital Advisors, Lp acquired 200,000 shares of Appian stock. The shares were purchased at an average price of $35.29 per share, for a total transaction of $7,058,000.00.
• On Tuesday, July 16th, Abdiel Capital Advisors, Lp bought 40,000 shares of Appian stock. The stock was purchased at an average price of $35.16 per share, with a total value of $1,406,400.00.
• On Friday, July 12th, Abdiel Capital Advisors, Lp purchased 25,121 shares of Appian stock. The shares were purchased at an average price of $33.35 per share, for a total transaction of $837,785.35.
• On Wednesday, July 10th, Abdiel Capital Advisors, Lp acquired 100,000 shares of Appian stock. The stock was acquired at an average price of $32.91 per share, with a total value of $3,291,000.00.
• On Monday, July 8th, Abdiel Capital Advisors, Lp bought 60,722 shares of Appian stock. The shares were acquired at an average cost of $31.34 per share, for a total transaction of $1,903,027.48.
• On Friday, July 5th, Abdiel Capital Advisors, Lp purchased 475,000 shares of Appian stock. The shares were acquired at an average price of $30.94 per share, for a total transaction of $14,696,500.00.

Appian Stock Performance

APPN stock opened at $37.75 on Monday. The firm has a market cap of $2.73 billion, a PE ratio of -25.68 and a beta of 1.48. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. The stock has a 50-day moving average price of $30.96 and a 200-day moving average price of $33.71. Appian Co. has a 1-year low of $26.28 and a 1-year high of $52.99.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The business had revenue of $149.80 million during the quarter, compared to the consensus estimate of $149.78 million. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts expect that Appian Co. will post -1.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of APPN. Headlands Technologies LLC acquired a new stake in Appian in the fourth quarter worth $47,000. Neo Ivy Capital Management acquired a new position in Appian during the 2nd quarter worth approximately $65,000. Concord Wealth Partners acquired a new position in Appian during the 1st quarter worth approximately $85,000. Quest Partners LLC bought a new position in Appian in the fourth quarter worth approximately $177,000. Finally, Victory Capital Management Inc. grew its stake in 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 acquiring an additional 1,027 shares during the period. Institutional investors and hedge funds own 52.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Barclays lowered their target price on Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. KeyCorp increased their price target on Appian from $37.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.00.

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.