Abdiel Capital Advisors, Lp Buys 200,000 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 200,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $35.29 per share, for a total transaction of $7,058,000.00. Following the purchase, the insider now owns 7,345,647 shares of the company’s stock, valued at $259,227,882.63. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Tuesday, July 16th, Abdiel Capital Advisors, Lp bought 40,000 shares of Appian stock. The shares were bought at an average cost of $35.16 per share, with a total value of $1,406,400.00.
• On Friday, July 12th, Abdiel Capital Advisors, Lp purchased 25,121 shares of Appian stock. The stock was bought at an average cost of $33.35 per share, for a total transaction of $837,785.35.
• On Wednesday, July 10th, Abdiel Capital Advisors, Lp acquired 100,000 shares of Appian stock. The shares were bought at an average price of $32.91 per share, with a total value of $3,291,000.00.
• On Monday, July 8th, Abdiel Capital Advisors, Lp bought 60,722 shares of Appian stock. The stock was bought at an average price of $31.34 per share, for a total transaction of $1,903,027.48.
• On Friday, July 5th, Abdiel Capital Advisors, Lp acquired 475,000 shares of Appian stock. The stock was purchased at an average cost of $30.94 per share, for a total transaction of $14,696,500.00.

Appian Price Performance

Shares of APPN stock traded down $0.21 during mid-day trading on Thursday, hitting $35.37. 718,982 shares of the stock traded hands, compared to its average volume of 523,201. Appian Co. has a twelve month low of $26.28 and a twelve month high of $52.99. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.33 and a current ratio of 1.33. The company’s 50-day simple moving average is $30.62 and its 200-day simple moving average is $33.65. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -24.06 and a beta of 1.48.

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

Institutional Trading of Appian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Appian by 3.4% during the third quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock valued at $207,824,000 after purchasing an additional 147,785 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Appian in the first quarter worth about $1,708,000. Hawk Ridge Capital Management LP increased 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 worth $70,043,000 after acquiring an additional 236,230 shares in the last quarter. Roubaix Capital LLC purchased a new stake in shares of Appian in the 4th quarter valued at approximately $2,190,000. Finally, SG Americas Securities LLC acquired a new position in Appian in the 4th quarter worth approximately $308,000. 52.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. KeyCorp dropped their price target 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. Barclays lowered their target price on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. Citigroup boosted their price target on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Finally, William Blair reissued an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.43.

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.