Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $514,460.16 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 15,552 shares of Appian stock in a transaction on Monday, September 23rd. The shares were purchased at an average cost of $33.08 per share, with a total value of $514,460.16. Following the acquisition, the insider now directly owns 10,142,000 shares of the company’s stock, valued at $335,497,360. The purchase was disclosed in a legal filing 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, 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, with a total value of $56,341.92.
• On Friday, September 20th, Abdiel Capital Advisors, Lp acquired 7,957 shares of Appian stock. The stock was purchased at an average cost of $33.55 per share, with a total value of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp bought 11,798 shares of Appian stock. The shares were acquired at an average cost 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 stock was acquired at an average price of $32.98 per share, with a total value of $49,008.28.
• On Friday, September 13th, Abdiel Capital Advisors, Lp acquired 7,501 shares of Appian stock. The shares were acquired at an average cost of $32.73 per share, with a total value of $245,507.73.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp bought 21,769 shares of Appian stock. The stock was acquired 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 bought 23,053 shares of Appian stock. The shares were bought 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 stock was bought at an average cost of $31.74 per share, with a total value of $330,096.00.

Appian Stock Down 0.1 %

NASDAQ:APPN opened at $34.94 on Friday. Appian Co. has a 52 week low of $26.28 and a 52 week high of $46.56. The stock’s fifty day moving average is $32.17 and its two-hundred day moving average is $33.02. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -23.77 and a beta of 1.56. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last announced its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. The company had revenue of $146.50 million during the quarter, compared to analysts’ expectations of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. Appian’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the business posted ($0.55) EPS. Research analysts anticipate that Appian Co. will post -1.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APPN. The Goldman Sachs Group dropped their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 2nd. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. William Blair cut Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. DA Davidson lowered Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Barclays reduced their target price on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.20.

Institutional Investors Weigh In On Appian

Hedge funds have recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new position in shares of Appian in the second quarter worth $65,000. Concord Wealth Partners purchased a new position in Appian in the first quarter valued at $85,000. Canada Pension Plan Investment Board acquired a new position in Appian during the 2nd quarter worth $96,000. nVerses Capital LLC purchased a new stake in Appian during the 2nd quarter worth about $105,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Appian in the 2nd quarter valued at about $121,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.