Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Purchases 100,000 Shares of Stock

Appian Co. (NASDAQ:APPNGet Rating) major shareholder Abdiel Capital Management, Llc purchased 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The stock was bought at an average price of $43.98 per share, for a total transaction of $4,398,000.00. Following the acquisition, the insider now owns 8,323,566 shares of the company’s stock, valued at $366,070,432.68. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Abdiel Capital Management, Llc also recently made the following trade(s):

  • On Friday, June 3rd, Abdiel Capital Management, Llc purchased 6,636 shares of Appian stock. The stock was bought at an average price of $48.86 per share, for a total transaction of $324,234.96.
  • On Tuesday, May 31st, Abdiel Capital Management, Llc bought 40,000 shares of Appian stock. The shares were acquired at an average price of $47.76 per share, for a total transaction of $1,910,400.00.
  • On Thursday, May 26th, Abdiel Capital Management, Llc bought 18,576 shares of Appian stock. The shares were acquired at an average price of $45.89 per share, for a total transaction of $852,452.64.
  • On Tuesday, May 24th, Abdiel Capital Management, Llc bought 103,390 shares of Appian stock. The shares were acquired at an average price of $41.38 per share, for a total transaction of $4,278,278.20.
  • On Thursday, May 19th, Abdiel Capital Management, Llc bought 39,966 shares of Appian stock. The shares were acquired at an average price of $49.16 per share, for a total transaction of $1,964,728.56.
  • On Tuesday, May 17th, Abdiel Capital Management, Llc bought 50,000 shares of Appian stock. The shares were acquired at an average price of $51.67 per share, for a total transaction of $2,583,500.00.
  • On Friday, May 6th, Abdiel Capital Management, Llc bought 250,000 shares of Appian stock. The shares were acquired at an average price of $46.26 per share, for a total transaction of $11,565,000.00.
  • On Monday, May 9th, Abdiel Capital Management, Llc bought 58,462 shares of Appian stock. The shares were acquired at an average price of $44.69 per share, for a total transaction of $2,612,666.78.
  • On Wednesday, May 4th, Abdiel Capital Management, Llc purchased 77,000 shares of Appian stock. The stock was bought at an average cost of $46.67 per share, with a total value of $3,593,590.00.
  • On Monday, May 2nd, Abdiel Capital Management, Llc purchased 32,500 shares of Appian stock. The stock was bought at an average cost of $49.83 per share, with a total value of $1,619,475.00.

NASDAQ:APPN traded up $4.64 during mid-day trading on Thursday, reaching $50.29. The company’s stock had a trading volume of 561,998 shares, compared to its average volume of 610,086. Appian Co. has a 12-month low of $38.78 and a 12-month high of $149.82. The firm’s fifty day moving average price is $48.66 and its two-hundred day moving average price is $55.83. The stock has a market cap of $3.64 billion, a P/E ratio of -36.44 and a beta of 1.77.

Appian (NASDAQ:APPNGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. Appian had a negative return on equity of 28.38% and a negative net margin of 24.88%. The business had revenue of $114.27 million during the quarter, compared to analyst estimates of $107.19 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. Appian’s revenue was up 28.6% on a year-over-year basis. On average, sell-side analysts anticipate that Appian Co. will post -1.04 EPS for the current year.

APPN has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Appian in a research report on Wednesday, April 27th. They issued a “buy” rating and a $70.00 price target for the company. Barclays lowered their price target on Appian from $47.00 to $42.00 and set an “underweight” rating for the company in a research report on Tuesday, April 19th. Finally, Berenberg Bank initiated coverage on Appian in a research report on Friday, June 10th. They issued a “buy” rating and a $63.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Appian has a consensus rating of “Moderate Buy” and an average target price of $78.33.

Large investors have recently modified their holdings of the business. San Luis Wealth Advisors LLC purchased a new stake in shares of Appian during the 1st quarter valued at about $26,000. Rise Advisors LLC purchased a new stake in shares of Appian during the 4th quarter valued at about $28,000. Chilton Capital Management LLC purchased a new stake in shares of Appian during the 4th quarter valued at about $30,000. Parkside Financial Bank & Trust increased its position in shares of Appian by 150.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 500 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Appian during the 4th quarter valued at about $38,000. 80.47% of the stock is owned by institutional investors and hedge funds.

About Appian (Get Rating)

Appian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that are needed to be manually coded. The company also offers professional and customer support services.

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