Appian Co. (NASDAQ:APPN) Major Shareholder Purchases $1,406,400.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 40,000 shares of Appian stock in a transaction that occurred on Tuesday, July 16th. The shares were acquired at an average cost of $35.16 per share, for a total transaction of $1,406,400.00. Following the completion of the transaction, the insider now directly owns 7,085,647 shares in the company, valued at $249,131,348.52. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 Thursday, July 18th, Abdiel Capital Advisors, Lp acquired 200,000 shares of Appian stock. The shares were bought at an average price of $35.29 per share, for a total transaction of $7,058,000.00.
• On Friday, July 12th, Abdiel Capital Advisors, Lp bought 25,121 shares of Appian stock. The shares were bought at an average cost of $33.35 per share, for a total transaction of $837,785.35.
• On Wednesday, July 10th, Abdiel Capital Advisors, Lp purchased 100,000 shares of Appian stock. The stock was bought at an average cost of $32.91 per share, with a total value of $3,291,000.00.
• On Monday, July 8th, Abdiel Capital Advisors, Lp acquired 60,722 shares of Appian stock. The shares were bought at an average cost of $31.34 per share, for a total transaction of $1,903,027.48.
• On Friday, July 5th, Abdiel Capital Advisors, Lp purchased 475,000 shares of Appian stock. The shares were purchased at an average cost of $30.94 per share, with a total value of $14,696,500.00.

Appian Trading Down 0.2 %

Shares of NASDAQ:APPN opened at $35.30 on Friday. The company has a market capitalization of $2.55 billion, a PE ratio of -24.01 and a beta of 1.48. Appian Co. has a 12-month low of $26.28 and a 12-month high of $52.99. The business has a 50 day moving average of $30.68 and a two-hundred day moving average of $33.63. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68.

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

Hedge Funds Weigh In On Appian

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Appian by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after buying an additional 147,785 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Appian during the fourth quarter worth $308,000. Acorn Financial Advisory Services Inc. ADV raised its position in shares of Appian by 13.0% in the fourth quarter. Acorn Financial Advisory Services Inc. ADV now owns 32,736 shares of the company’s stock valued at $1,233,000 after buying an additional 3,764 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Appian by 4.6% in the fourth quarter. Arizona State Retirement System now owns 9,308 shares of the company’s stock worth $351,000 after buying an additional 411 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Appian by 1.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 466,062 shares of the company’s stock worth $17,552,000 after acquiring an additional 4,543 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Analyst Upgrades and Downgrades

APPN has been the subject of several research analyst reports. Barclays reduced their price objective on Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, May 3rd. KeyCorp decreased their price objective on shares of Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. One equities research 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 currently has a consensus rating of “Moderate Buy” and an average target price of $46.43.

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.