Abdiel Capital Advisors, Lp Buys 10,265 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were purchased at an average price of $33.75 per share, with a total value of $346,443.75. Following the completion of the acquisition, the insider now directly owns 10,179,538 shares in the company, valued at $343,559,407.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% 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 Wednesday, September 25th, Abdiel Capital Advisors, Lp acquired 1,712 shares of Appian stock. The stock was acquired at an average price of $32.91 per share, for a total transaction of $56,341.92.
• On Monday, September 23rd, Abdiel Capital Advisors, Lp acquired 15,552 shares of Appian stock. The shares were bought at an average cost of $33.08 per share, for a total transaction of $514,460.16.
• On Friday, September 20th, Abdiel Capital Advisors, Lp bought 7,957 shares of Appian stock. The shares were bought at an average cost of $33.55 per share, for a total transaction of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp purchased 11,798 shares of Appian stock. The stock was bought at an average cost of $33.25 per share, with a total value of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The stock was purchased at an average cost of $32.98 per share, with a total value of $49,008.28.
• On Friday, September 13th, Abdiel Capital Advisors, Lp purchased 7,501 shares of Appian stock. The stock was purchased at an average cost of $32.73 per share, for a total transaction of $245,507.73.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp acquired 21,769 shares of Appian stock. The shares were purchased at an average cost of $31.20 per share, with a total value of $679,192.80.
• On Monday, September 9th, Abdiel Capital Advisors, Lp acquired 23,053 shares of Appian stock. The shares were acquired at an average cost of $30.22 per share, for a total transaction of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp purchased 20,014 shares of Appian stock. The stock was bought at an average cost of $31.21 per share, for a total transaction of $624,636.94.
• On Wednesday, August 28th, Abdiel Capital Advisors, Lp bought 23,126 shares of Appian stock. The stock was bought at an average cost of $31.24 per share, for a total transaction of $722,456.24.

Appian Trading Down 0.5 %

Shares of APPN stock opened at $33.83 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 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 $44.44. The stock has a market capitalization of $2.44 billion, a P/E ratio of -23.01 and a beta of 1.56. The firm’s 50 day moving average is $31.92 and its 200 day moving average is $32.93.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. The firm had revenue of $146.50 million for the quarter, compared to the consensus estimate of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the business posted ($0.55) EPS. Research analysts expect that Appian Co. will post -1.07 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. Crossmark Global Holdings Inc. boosted its holdings in shares of Appian by 3.0% in the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after buying an additional 280 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Appian by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock valued at $648,000 after acquiring an additional 689 shares during the period. ProShare Advisors LLC increased its stake in shares of Appian by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock worth $333,000 after purchasing an additional 758 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after purchasing an additional 1,088 shares during the period. Finally, Rhumbline Advisers lifted its position in Appian by 2.4% during the second quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock valued at $1,845,000 after purchasing an additional 1,386 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

APPN has been the topic of several recent analyst reports. Barclays cut their price objective on shares of Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research report on Monday, August 5th. The Goldman Sachs Group decreased their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 2nd. KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. DA Davidson cut Appian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, William Blair cut Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.20.

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.