Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Acquires 475,000 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 475,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were bought at an average price of $30.94 per share, with a total value of $14,696,500.00. Following the transaction, the insider now owns 6,365,304 shares in the company, valued at approximately $196,942,505.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major 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 Monday, July 8th, Abdiel Capital Advisors, Lp acquired 60,722 shares of Appian stock. The shares were bought at an average price of $31.34 per share, with a total value of $1,903,027.48.

Appian Stock Up 0.8 %

Appian stock traded up $0.24 during midday trading on Tuesday, hitting $32.02. 663,767 shares of the company were exchanged, compared to its average volume of 507,970. The company’s fifty day moving average price is $30.38 and its 200-day moving average price is $33.81. The company has a market cap of $2.31 billion, a PE ratio of -21.78 and a beta of 1.48. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.33 and a quick ratio of 1.33. Appian Co. has a fifty-two week low of $26.28 and a fifty-two week high of $52.99.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The company had revenue of $149.80 million for the quarter, compared to analyst estimates of $149.78 million. Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm posted ($0.42) earnings per share. On average, research analysts predict that Appian Co. will post -1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Appian

A number of institutional investors have recently made changes to their positions in APPN. Headlands Technologies LLC acquired a new position in shares of Appian in the 4th quarter valued at approximately $47,000. Concord Wealth Partners acquired a new position in shares of Appian in the 1st quarter valued at approximately $85,000. Quest Partners LLC acquired a new position in shares of Appian in the 4th quarter valued at approximately $177,000. Victory Capital Management Inc. raised its position in shares of Appian by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after purchasing an additional 1,027 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Appian in the 4th quarter valued at approximately $210,000. 52.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APPN has been the subject of several recent analyst reports. Citigroup lifted their price target on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. KeyCorp lowered their price target on Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. William Blair restated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. Finally, Barclays lowered their price target on Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.43.

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.