Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Acquires 1,712 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 1,712 shares of Appian stock in a transaction on Wednesday, September 25th. The stock was bought at an average price of $32.91 per share, with a total value of $56,341.92. Following the completion of the acquisition, the insider now directly owns 10,169,273 shares of the company’s stock, valued at approximately $334,670,774.43. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, September 23rd, Abdiel Capital Advisors, Lp purchased 15,552 shares of Appian stock. The stock was bought at an average price of $33.08 per share, with a total value of $514,460.16.
• On Friday, September 20th, Abdiel Capital Advisors, Lp purchased 7,957 shares of Appian stock. The stock was bought at an average price of $33.55 per share, with a total value of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp acquired 11,798 shares of Appian stock. The shares were acquired at an average price of $33.25 per share, with a total value of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp acquired 1,486 shares of Appian stock. The shares were 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 price of $32.73 per share, with a total value of $245,507.73.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp acquired 21,769 shares of Appian stock. The shares were acquired at an average price of $31.20 per share, with a total value of $679,192.80.
• On Monday, September 9th, Abdiel Capital Advisors, Lp acquired 23,053 shares of Appian stock. The shares were acquired at an average price of $30.22 per share, with a total value of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp acquired 20,014 shares of Appian stock. The shares were acquired at an average price 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 acquired at an average price of $31.24 per share, with a total value of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp purchased 10,400 shares of Appian stock. The shares were purchased at an average cost of $31.74 per share, for a total transaction of $330,096.00.

Appian Stock Performance

Shares of APPN stock opened at $34.94 on Friday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -23.77 and a beta of 1.56. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24. Appian Co. has a 52 week low of $26.28 and a 52 week high of $46.56. The firm’s 50-day simple moving average is $32.17 and its two-hundred day simple moving average is $33.02.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.05. The business had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.55) earnings per share. As a group, equities analysts forecast that Appian Co. will post -1.07 earnings per share for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Appian

Several large investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. increased its stake in shares of Appian by 3.0% in the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after purchasing an additional 280 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Appian by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock worth $648,000 after purchasing an additional 689 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Appian by 10.0% in the first quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock worth $333,000 after purchasing an additional 758 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Appian by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after purchasing an additional 1,027 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after purchasing an additional 1,088 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.