Abdiel Capital Advisors, Lp Acquires 11,798 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 11,798 shares of Appian stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average price of $33.25 per share, with a total value of $392,283.50. Following the purchase, the insider now directly owns 10,111,445 shares in the company, valued at $336,205,546.25. The transaction was disclosed in a legal 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 sales and purchases with the SEC.

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

• On Friday, September 20th, Abdiel Capital Advisors, Lp acquired 7,957 shares of Appian stock. The stock was purchased at an average cost of $33.55 per share, for a total transaction of $266,957.35.
• On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The shares were purchased at an average cost of $32.98 per share, with a total value of $49,008.28.
• On Friday, September 13th, Abdiel Capital Advisors, Lp purchased 7,501 shares of Appian stock. The shares were acquired at an average cost 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 stock was acquired at an average cost of $31.20 per share, for a total transaction of $679,192.80.
• On Monday, September 9th, Abdiel Capital Advisors, Lp bought 23,053 shares of Appian stock. The shares were acquired at an average cost of $30.22 per share, with a total value of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp purchased 20,014 shares of Appian stock. The stock was acquired at an average cost of $31.21 per share, for a total transaction of $624,636.94.
• On Wednesday, August 28th, Abdiel Capital Advisors, Lp acquired 23,126 shares of Appian stock. The shares were bought 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 bought 10,400 shares of Appian stock. The shares were bought at an average cost of $31.74 per share, for a total transaction of $330,096.00.
• On Friday, August 23rd, Abdiel Capital Advisors, Lp purchased 19,879 shares of Appian stock. The stock was bought at an average cost of $31.55 per share, with a total value of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp bought 25,000 shares of Appian stock. The shares were purchased at an average cost of $31.17 per share, with a total value of $779,250.00.

Appian Trading Down 1.0 %

Shares of Appian stock opened at $33.41 on Friday. Appian Co. has a twelve month low of $26.28 and a twelve month high of $46.56. The firm’s 50-day moving average price is $32.29 and its 200 day moving average price is $33.07. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $2.41 billion, a PE ratio of -22.73 and a beta of 1.56.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The business had revenue of $146.50 million for the quarter, compared to the consensus estimate of $142.87 million. During the same quarter last year, the business posted ($0.55) earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts predict that Appian Co. will post -1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Appian

Large investors have recently modified their holdings of the business. Neo Ivy Capital Management acquired a new position in Appian during the second quarter worth about $65,000. Concord Wealth Partners purchased a new position in Appian in the 1st quarter worth approximately $85,000. Canada Pension Plan Investment Board acquired a new position in shares of Appian during the 2nd quarter worth approximately $96,000. nVerses Capital LLC purchased a new stake in shares of Appian in the second quarter valued at approximately $105,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Appian in the second quarter valued at approximately $121,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analysts Set New Price Targets

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

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.