Abdiel Capital Advisors, Lp Buys 11,798 Shares of Appian Co. (NASDAQ:APPN) Stock

Posted by Brian Wu on Sep 23rd, 2024

Appian Co. (NASDAQ:APPN – Get Free Report) major shareholder Abdiel Capital Advisors, Lp bought 11,798 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were purchased at an average cost of $33.25 per share, for a total transaction of $392,283.50. Following the transaction, the insider now owns 10,111,445 shares in the company, valued at $336,205,546.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 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 Friday, September 20th, Abdiel Capital Advisors, Lp bought 7,957 shares of Appian stock. The shares were purchased at an average cost of $33.55 per share, for a total transaction of $266,957.35.
On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The shares were purchased at an average cost of $32.98 per share, for a total transaction of $49,008.28.
On Friday, September 13th, Abdiel Capital Advisors, Lp bought 7,501 shares of Appian stock. The shares were 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 bought 21,769 shares of Appian stock. The shares were purchased 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 shares were bought at an average price of $30.22 per share, with a total value of $696,661.66.
On Thursday, September 5th, Abdiel Capital Advisors, Lp purchased 20,014 shares of Appian stock. The shares were bought at an average price of $31.21 per share, with a total value of $624,636.94.
On Wednesday, August 28th, Abdiel Capital Advisors, Lp purchased 23,126 shares of Appian stock. The shares were bought at an average price of $31.24 per share, with a total value of $722,456.24.
On Monday, August 26th, Abdiel Capital Advisors, Lp purchased 10,400 shares of Appian stock. The shares were bought at an average price of $31.74 per share, with a total value of $330,096.00.
On Friday, August 23rd, Abdiel Capital Advisors, Lp purchased 19,879 shares of Appian stock. The shares were bought at an average price of $31.55 per share, with a total value of $627,182.45.
On Wednesday, August 21st, Abdiel Capital Advisors, Lp purchased 25,000 shares of Appian stock. The shares were bought at an average price of $31.17 per share, with a total value of $779,250.00.

Appian Stock Down 1.0 %

APPN opened at $33.41 on Monday. The company has a fifty day moving average price of $32.29 and a 200-day moving average price of $33.05. The firm has a market capitalization 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 current ratio of 1.24 and a quick ratio of 1.24. Appian Co. has a one year low of $26.28 and a one year high of $46.56.

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

Institutional Trading of Appian

A number of hedge funds have recently made changes to their positions in APPN. Vanguard Group Inc. lifted its holdings in shares of Appian by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after acquiring an additional 392,190 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after acquiring an additional 317,411 shares during the last quarter. Norges Bank bought a new stake in shares of Appian during the 4th quarter worth $10,534,000. Empyrean Capital Partners LP bought a new stake in shares of Appian during the 2nd quarter worth $7,715,000. Finally, Hawk Ridge Capital Management LP lifted its holdings in shares of Appian by 14.5% during the 4th 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 during the last quarter. 52.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Get Our Latest Stock Analysis on APPN

Appian Company Profile

(Get Free Report)

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.