Appian Co. (NASDAQ:APPN) Major Shareholder Buys $1,903,027.48 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 60,722 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were purchased at an average cost of $31.34 per share, for a total transaction of $1,903,027.48. Following the purchase, the insider now directly owns 6,426,026 shares in the company, valued at $201,391,654.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 Friday, July 5th, Abdiel Capital Advisors, Lp bought 475,000 shares of Appian stock. The stock was bought at an average cost of $30.94 per share, with a total value of $14,696,500.00.

Appian Trading Up 0.8 %

Shares of NASDAQ:APPN traded up $0.24 during trading on Tuesday, hitting $32.02. 663,767 shares of the company’s stock were exchanged, compared to its average volume of 507,970. The firm has a market cap of $2.31 billion, a P/E ratio of -21.78 and a beta of 1.48. The firm has a 50-day moving average price of $30.38 and a two-hundred day moving average price of $33.81. 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 Co. has a 1-year low of $26.28 and a 1-year high of $52.99.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on APPN shares. Barclays lowered their price objective on shares of Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. KeyCorp dropped their target price on shares of Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. William Blair restated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. Finally, Citigroup upped their price objective on shares of Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.43.

Hedge Funds Weigh In On Appian

Several institutional investors and hedge funds have recently modified their holdings of APPN. Headlands Technologies LLC bought a new position in shares of Appian in the fourth quarter worth about $47,000. Concord Wealth Partners bought a new position in Appian during the 1st quarter worth approximately $85,000. Quest Partners LLC bought a new position in Appian during the 4th quarter worth approximately $177,000. Victory Capital Management Inc. raised its holdings in Appian by 22.9% during the 4th 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 during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Appian during the 4th quarter worth approximately $210,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.