Appian Co. (NASDAQ:APPN) Major Shareholder Purchases $266,957.35 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 7,957 shares of Appian stock in a transaction dated Friday, September 20th. The shares were acquired at an average price of $33.55 per share, with a total value of $266,957.35. Following the completion of the transaction, the insider now owns 10,126,448 shares of the company’s stock, valued at approximately $339,742,330.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large 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 Wednesday, September 18th, Abdiel Capital Advisors, Lp bought 11,798 shares of Appian stock. The shares were acquired at an average cost of $33.25 per share, for a total transaction of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp purchased 1,486 shares of Appian stock. The stock was acquired 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 acquired 7,501 shares of Appian stock. The stock was bought at an average cost of $32.73 per share, with a total value of $245,507.73.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp bought 21,769 shares of Appian stock. The shares were bought at an average cost of $31.20 per share, for a total transaction of $679,192.80.
• On Monday, September 9th, Abdiel Capital Advisors, Lp purchased 23,053 shares of Appian stock. The stock was bought at an average cost of $30.22 per share, with a total value of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp bought 20,014 shares of Appian stock. The shares were purchased 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 purchased 23,126 shares of Appian stock. The shares were purchased at an average cost of $31.24 per share, with a total value of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp bought 10,400 shares of Appian stock. The shares were purchased at an average cost of $31.74 per share, for a total transaction of $330,096.00.
• On Friday, August 23rd, Abdiel Capital Advisors, Lp purchased 19,879 shares of Appian stock. The stock was acquired at an average cost of $31.55 per share, with a total value of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp bought 25,000 shares of Appian stock. The stock was acquired at an average price of $31.17 per share, for a total transaction of $779,250.00.

Appian Stock Performance

APPN stock opened at $33.41 on Friday. The firm has a 50 day simple moving average of $32.29 and a 200 day simple moving average of $33.07. Appian Co. has a 52 week low of $26.28 and a 52 week high of $46.56. The stock has a market cap of $2.41 billion, a P/E ratio of -22.73 and a beta of 1.56. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The company had revenue of $146.50 million during the quarter, compared to analyst estimates of $142.87 million. During the same quarter last year, the business posted ($0.55) EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts anticipate that Appian Co. will post -1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APPN. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after buying an additional 1,088 shares in the last quarter. Algert Global LLC lifted its stake in Appian by 7.7% in the second quarter. Algert Global LLC now owns 50,263 shares of the company’s stock valued at $1,551,000 after acquiring an additional 3,614 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Appian by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock worth $648,000 after acquiring an additional 689 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of Appian during the 2nd quarter worth $433,000. Finally, Empyrean Capital Partners LP bought a new position in shares of Appian during the 2nd quarter valued at $7,715,000. 52.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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