Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Buys 25,121 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 25,121 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was purchased at an average price of $33.35 per share, with a total value of $837,785.35. Following the completion of the acquisition, the insider now directly owns 7,045,647 shares of the company’s stock, valued at $234,972,327.45. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Abdiel Capital Advisors, Lp also recently made the following trade(s):

• On Wednesday, July 10th, Abdiel Capital Advisors, Lp bought 100,000 shares of Appian stock. The stock was bought at an average price of $32.91 per share, for a total transaction of $3,291,000.00.
• On Monday, July 8th, Abdiel Capital Advisors, Lp bought 60,722 shares of Appian stock. The stock was bought at an average price of $31.34 per share, for a total transaction of $1,903,027.48.
• On Friday, July 5th, Abdiel Capital Advisors, Lp bought 475,000 shares of Appian stock. The stock was bought at an average price of $30.94 per share, for a total transaction of $14,696,500.00.

Appian Stock Performance

Shares of Appian stock traded up $1.15 on Friday, reaching $33.64. 575,566 shares of the stock were exchanged, compared to its average volume of 518,555. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.68. Appian Co. has a twelve month low of $26.28 and a twelve month high of $52.99. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -22.88 and a beta of 1.48. The business has a 50 day moving average price of $30.34 and a two-hundred day moving average price of $33.79.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in Appian by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,097 shares of the company’s stock valued at $1,203,000 after acquiring an additional 1,494 shares during the period. Boulder Hill Capital Management LP acquired a new position in Appian in the first quarter valued at approximately $1,678,000. CANADA LIFE ASSURANCE Co lifted its holdings in Appian by 70.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after acquiring an additional 196,435 shares during the period. Roubaix Capital LLC lifted its holdings in Appian by 43.7% in the first quarter. Roubaix Capital LLC now owns 83,592 shares of the company’s stock valued at $3,340,000 after acquiring an additional 25,441 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Appian by 8.4% in the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after acquiring an additional 392,190 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on APPN shares. Citigroup lifted their target price on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Barclays cut their target price on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, May 3rd. KeyCorp dropped their price target on Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, William Blair restated an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.