Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $2,111,250.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 75,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $28.15 per share, with a total value of $2,111,250.00. Following the completion of the purchase, the insider now owns 8,380,847 shares of the company’s stock, valued at $235,920,843.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Wednesday, August 7th, Abdiel Capital Advisors, Lp bought 150,000 shares of Appian stock. The shares were purchased at an average price of $27.11 per share, for a total transaction of $4,066,500.00.
• On Wednesday, July 31st, Abdiel Capital Advisors, Lp bought 150,000 shares of Appian stock. The stock was purchased at an average price of $36.74 per share, with a total value of $5,511,000.00.
• On Monday, July 29th, Abdiel Capital Advisors, Lp purchased 150,000 shares of Appian stock. The stock was purchased at an average cost of $37.76 per share, for a total transaction of $5,664,000.00.
• On Friday, July 26th, Abdiel Capital Advisors, Lp bought 32,500 shares of Appian stock. The shares were acquired at an average price of $37.54 per share, for a total transaction of $1,220,050.00.
• On Wednesday, July 24th, Abdiel Capital Advisors, Lp purchased 82,500 shares of Appian stock. The stock was acquired at an average price of $35.44 per share, with a total value of $2,923,800.00.
• On Monday, July 22nd, Abdiel Capital Advisors, Lp acquired 62,500 shares of Appian stock. The stock was acquired at an average price of $34.91 per share, for a total transaction of $2,181,875.00.
• On Thursday, July 18th, Abdiel Capital Advisors, Lp bought 200,000 shares of Appian stock. The shares were acquired at an average price of $35.29 per share, with a total value of $7,058,000.00.
• On Tuesday, July 16th, Abdiel Capital Advisors, Lp acquired 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 bought 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 purchased 100,000 shares of Appian stock. The stock was bought at an average cost of $32.91 per share, with a total value of $3,291,000.00.

Appian Trading Down 0.6 %

NASDAQ:APPN opened at $28.23 on Monday. The company has a 50 day simple moving average of $31.05 and a two-hundred day simple moving average of $33.55. The company has a market cap of $2.04 billion, a PE ratio of -19.20 and a beta of 1.47. 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 12 month low of $26.28 and a 12 month high of $52.99.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.05. Appian had a negative return on equity of 234.57% and a negative net margin of 18.80%. The company had revenue of $146.50 million during the quarter, compared to analyst estimates of $142.87 million. During the same quarter in the previous year, the company posted ($0.55) earnings per share. Appian’s revenue was up 14.7% compared to the same quarter last year. Research analysts forecast that Appian Co. will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On Appian

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in Appian during the fourth quarter valued at approximately $47,000. Neo Ivy Capital Management bought a new stake in shares of Appian during the 2nd quarter valued at $65,000. Concord Wealth Partners purchased a new stake in shares of Appian in the 1st quarter worth $85,000. nVerses Capital LLC bought a new position in Appian in the 2nd quarter worth $105,000. Finally, Quest Partners LLC purchased a new position in Appian during the fourth quarter valued at $177,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. William Blair lowered shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group reduced their price target on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. DA Davidson lowered Appian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Barclays lowered their price target on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.20.

About Appian

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.