Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Acquires 7,501 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 7,501 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $32.73 per share, for a total transaction of $245,507.73. Following the acquisition, the insider now directly owns 10,086,925 shares of the company’s stock, valued at approximately $330,145,055.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 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, September 16th, Abdiel Capital Advisors, Lp purchased 1,486 shares of Appian stock. The shares were bought at an average price of $32.98 per share, for a total transaction of $49,008.28.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp bought 21,769 shares of Appian stock. The stock was bought at an average cost 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 stock was bought 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 purchased 20,014 shares of Appian stock. The shares were purchased 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 bought 23,126 shares of Appian stock. The shares were acquired at an average price of $31.24 per share, for a total transaction of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp acquired 10,400 shares of Appian stock. The stock was acquired 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 bought 19,879 shares of Appian stock. The shares were acquired at an average price of $31.55 per share, with a total value of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp purchased 25,000 shares of Appian stock. The stock was bought at an average cost of $31.17 per share, for a total transaction of $779,250.00.
• On Monday, August 19th, Abdiel Capital Advisors, Lp acquired 25,205 shares of Appian stock. The stock was bought at an average price of $31.10 per share, with a total value of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp bought 266,976 shares of Appian stock. The shares were bought at an average price of $30.50 per share, for a total transaction of $8,142,768.00.

Appian Stock Down 1.0 %

Appian stock opened at $33.12 on Wednesday. Appian Co. has a twelve month low of $26.28 and a twelve month high of $47.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.68. The company has a 50 day moving average of $32.26 and a 200-day moving average of $33.08. The stock has a market capitalization of $2.39 billion, a PE ratio of -22.53 and a beta of 1.56.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. During the same period in the previous year, the company posted ($0.55) earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that Appian Co. will post -1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Appian

Several hedge funds and other institutional investors have recently made changes to their positions in APPN. Vanguard Group Inc. raised its holdings in shares of Appian by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after purchasing an additional 392,190 shares during the period. First Trust Advisors LP increased its position in Appian by 31.6% during the fourth quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after buying an additional 317,411 shares during the last quarter. Norges Bank bought a new stake in Appian in the fourth quarter valued at approximately $10,534,000. Empyrean Capital Partners LP bought a new stake in Appian in the second quarter valued at approximately $7,715,000. Finally, Hawk Ridge Capital Management LP lifted its position in shares of Appian by 14.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock valued at $70,043,000 after buying an additional 236,230 shares during the last quarter. 52.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

APPN has been the topic of a number of analyst reports. William Blair downgraded shares of Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. DA Davidson lowered shares of Appian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Barclays dropped their price objective on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research note on Monday, August 5th. Finally, The Goldman Sachs Group reduced their target price on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.