Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Buys 7,501 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 7,501 shares of Appian stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of $32.73 per share, with a total value of $245,507.73. Following the transaction, the insider now owns 10,086,925 shares in the company, valued at $330,145,055.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major 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 16th, Abdiel Capital Advisors, Lp acquired 1,486 shares of Appian stock. The shares were purchased at an average price of $32.98 per share, with a total value of $49,008.28.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp bought 21,769 shares of Appian stock. The stock was purchased 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 purchased 23,053 shares of Appian stock. The shares were purchased 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 acquired 20,014 shares of Appian stock. The stock was purchased at an average price of $31.21 per share, for a total transaction of $624,636.94.
• On Wednesday, August 28th, Abdiel Capital Advisors, Lp purchased 23,126 shares of Appian stock. The stock was 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 acquired 10,400 shares of Appian stock. The stock was acquired at an average price 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, with a total value of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp acquired 25,000 shares of Appian stock. The shares were bought at an average price of $31.17 per share, for a total transaction of $779,250.00.
• On Monday, August 19th, Abdiel Capital Advisors, Lp purchased 25,205 shares of Appian stock. The shares were bought 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 stock was purchased at an average cost of $30.50 per share, with a total value of $8,142,768.00.

Appian Trading Down 1.0 %

Appian stock traded down $0.35 during midday trading on Tuesday, reaching $33.12. 317,882 shares of the stock traded hands, compared to its average volume of 560,874. The company has a 50-day simple moving average of $32.26 and a two-hundred day simple moving average of $33.08. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.68. Appian Co. has a 12-month low of $26.28 and a 12-month high of $47.24. The firm has a market cap of $2.39 billion, a PE ratio of -22.53 and a beta of 1.56.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. During the same quarter in the prior year, the company posted ($0.55) earnings per share. Appian’s revenue for the quarter was up 14.7% compared to the same quarter last year. Research analysts expect that Appian Co. will post -1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Appian

A number of large investors have recently made changes to their positions in APPN. Neo Ivy Capital Management purchased a new stake in shares of Appian during the second quarter worth approximately $65,000. Concord Wealth Partners acquired a new position in Appian in the 1st quarter valued at $85,000. Canada Pension Plan Investment Board acquired a new stake in shares of Appian in the 2nd quarter worth $96,000. nVerses Capital LLC purchased a new stake in shares of Appian in the second quarter valued at about $105,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Appian during the second quarter worth about $121,000. 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.