Appian Co. (NASDAQ:APPN) Major Shareholder Buys $14,696,500.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 475,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were bought at an average price of $30.94 per share, with a total value of $14,696,500.00. Following the transaction, the insider now owns 6,365,304 shares in the company, valued at approximately $196,942,505.76. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Monday, July 8th, Abdiel Capital Advisors, Lp purchased 60,722 shares of Appian stock. The shares were purchased at an average cost of $31.34 per share, for a total transaction of $1,903,027.48.

Appian Stock Performance

Shares of NASDAQ:APPN opened at $32.49 on Friday. The business has a 50-day moving average of $30.34 and a two-hundred day moving average of $33.79. The firm has a market capitalization of $2.35 billion, a PE ratio of -22.10 and a beta of 1.48. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.33 and a quick ratio of 1.33. Appian Co. has a 12 month low of $26.28 and a 12 month high of $52.99.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $149.80 million for the quarter, compared to analyst estimates of $149.78 million. During the same period last year, the firm earned ($0.42) earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts forecast that Appian Co. will post -1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. KeyCorp reduced their price objective on shares of Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. William Blair restated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. Barclays decreased their price target on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, May 3rd. 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Appian presently has an average rating of “Moderate Buy” and an average target price of $46.43.

Institutional Trading of Appian

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Appian by 8.4% in the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after buying an additional 392,190 shares in the last quarter. Hawk Ridge Capital Management LP grew its position in 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 acquiring an additional 236,230 shares in the last quarter. Baillie Gifford & Co. grew its position in Appian by 5.6% in the first quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock valued at $70,169,000 after acquiring an additional 93,251 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Appian by 31.6% during the fourth quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock valued at $49,812,000 after purchasing an additional 317,411 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Appian by 70.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock worth $18,922,000 after purchasing an additional 196,435 shares in the last quarter. 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.