Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $56,341.92 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 1,712 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was bought at an average price of $32.91 per share, with a total value of $56,341.92. Following the transaction, the insider now directly owns 10,169,273 shares in the company, valued at $334,670,774.43. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 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 Monday, September 23rd, Abdiel Capital Advisors, Lp acquired 15,552 shares of Appian stock. The shares were purchased at an average cost 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 stock was 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 purchased at an average price 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 cost 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 shares were acquired 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 acquired 21,769 shares of Appian stock. The shares were acquired at an average price of $31.20 per share, with a total value of $679,192.80.
• On Monday, September 9th, Abdiel Capital Advisors, Lp bought 23,053 shares of Appian stock. The stock was acquired at an average price of $30.22 per share, for a total transaction of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp purchased 20,014 shares of Appian stock. The stock was 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 cost of $31.24 per share, for a total transaction of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp bought 10,400 shares of Appian stock. The shares were bought at an average cost of $31.74 per share, with a total value of $330,096.00.

Appian Stock Up 2.0 %

Shares of APPN stock opened at $34.97 on Friday. The stock’s 50 day simple moving average is $32.17 and its 200 day simple moving average is $33.01. Appian Co. has a twelve month low of $26.28 and a twelve month 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 $2.53 billion, a price-to-earnings ratio of -23.79 and a beta of 1.56.

Appian (NASDAQ:APPN) last issued its quarterly earnings data 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. The business had revenue of $146.50 million during the quarter, compared to analysts’ expectations of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. Appian’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.55) earnings per share. As a group, research analysts predict that Appian Co. will post -1.07 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Appian by 8.4% in the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after acquiring an additional 392,190 shares during the last quarter. Hawk Ridge Capital Management LP grew its position in Appian by 14.5% in the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after purchasing an additional 236,230 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Appian by 5.6% during the 1st quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock worth $70,169,000 after purchasing an additional 93,251 shares during the period. First Trust Advisors LP increased its holdings in shares of Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after purchasing an additional 317,411 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Appian by 70.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after buying an additional 196,435 shares during the last quarter. 52.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group cut their price target on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. Barclays dropped their price objective on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a report on Monday, August 5th. Finally, DA Davidson cut shares of Appian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. One equities research 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, the company currently has an average rating of “Hold” and a consensus price target of $39.20.

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.