Appian Co. (NASDAQ:APPN) Major Shareholder Purchases $2,923,800.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 82,500 shares of the stock in a transaction dated Wednesday, July 24th. The shares were purchased at an average price of $35.44 per share, with a total value of $2,923,800.00. Following the completion of the acquisition, the insider now owns 7,618,147 shares of the company’s stock, valued at $269,987,129.68. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, July 26th, Abdiel Capital Advisors, Lp bought 32,500 shares of Appian stock. The shares were purchased at an average price of $37.54 per share, for a total transaction of $1,220,050.00.
• On Monday, July 22nd, Abdiel Capital Advisors, Lp purchased 62,500 shares of Appian stock. The shares were acquired at an average cost of $34.91 per share, for a total transaction of $2,181,875.00.
• On Thursday, July 18th, Abdiel Capital Advisors, Lp acquired 200,000 shares of Appian stock. The stock was acquired at an average cost of $35.29 per share, with a total value of $7,058,000.00.
• On Tuesday, July 16th, Abdiel Capital Advisors, Lp bought 40,000 shares of Appian stock. The shares were acquired at an average price of $35.16 per share, for a total transaction of $1,406,400.00.
• On Friday, July 12th, Abdiel Capital Advisors, Lp purchased 25,121 shares of Appian stock. The stock was acquired at an average price of $33.35 per share, with a total value of $837,785.35.
• On Wednesday, July 10th, Abdiel Capital Advisors, Lp bought 100,000 shares of Appian stock. The stock was bought at an average cost of $32.91 per share, for a total transaction of $3,291,000.00.
• On Monday, July 8th, Abdiel Capital Advisors, Lp purchased 60,722 shares of Appian stock. The shares were bought at an average cost of $31.34 per share, with a total value of $1,903,027.48.
• On Friday, July 5th, Abdiel Capital Advisors, Lp purchased 475,000 shares of Appian stock. The stock was bought at an average price of $30.94 per share, for a total transaction of $14,696,500.00.

Appian Stock Performance

NASDAQ:APPN opened at $37.75 on Monday. Appian Co. has a twelve month low of $26.28 and a twelve month high of $52.99. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -25.68 and a beta of 1.48. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. The firm’s fifty day simple moving average is $30.96 and its 200 day simple moving average is $33.71.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) 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 company had revenue of $149.80 million for the quarter, compared to analyst estimates of $149.78 million. During the same quarter in the prior year, the firm earned ($0.42) EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts expect that Appian Co. will post -1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Appian

A number of institutional investors and hedge funds have recently bought and sold shares of APPN. 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. Vanguard Group Inc. increased its stake in Appian by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after buying an additional 147,785 shares during the period. GSA Capital Partners LLP acquired a new position in Appian in the 1st quarter worth $1,708,000. Hawk Ridge Capital Management LP boosted its position in Appian by 14.5% in the 4th 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. Finally, Roubaix Capital LLC acquired a new stake in shares of Appian during the fourth quarter valued at about $2,190,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on APPN shares. Barclays dropped their price objective on Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, May 3rd. KeyCorp upped their price target on Appian from $37.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

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.