Abdiel Capital Advisors, Lp Purchases 15,552 Shares of Appian Co. (NASDAQ:APPN) Stock

Posted by Elija Maina on Sep 27th, 2024

Appian Co. (NASDAQ:APPN – Get Free Report) major shareholder Abdiel Capital Advisors, Lp acquired 15,552 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average cost of $33.08 per share, with a total value of $514,460.16. Following the acquisition, the insider now directly owns 10,142,000 shares in the company, valued at $335,497,360. The transaction was disclosed in a document filed with the SEC, which is available at 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 Wednesday, September 25th, Abdiel Capital Advisors, Lp bought 1,712 shares of Appian stock. The stock was purchased at an average price of $32.91 per share, with a total value of $56,341.92.
On Friday, September 20th, Abdiel Capital Advisors, Lp bought 7,957 shares of Appian stock. The stock was purchased at an average price of $33.55 per share, with a total value of $266,957.35.
On Wednesday, September 18th, Abdiel Capital Advisors, Lp bought 11,798 shares of Appian stock. The stock was purchased at an average price 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 price of $32.98 per share, with a total value of $49,008.28.
On Friday, September 13th, Abdiel Capital Advisors, Lp bought 7,501 shares of Appian stock. The stock was purchased at an average price 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 stock was purchased at an average price of $31.20 per share, with a total value of $679,192.80.
On Monday, September 9th, Abdiel Capital Advisors, Lp bought 23,053 shares of Appian stock. The stock was purchased 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 acquired 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 acquired 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 acquired 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.

Appian Trading Up 2.0 %

NASDAQ:APPN opened at $34.97 on Friday. The firm’s fifty day moving average is $32.17 and its 200-day moving average is $33.01. 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 Co. has a 52 week low of $26.28 and a 52 week high of $46.56. The firm has a market cap of $2.53 billion, a P/E ratio of -23.79 and a beta of 1.56.

Appian (NASDAQ:APPN – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) 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 for the quarter, compared to analyst estimates of $142.87 million. During the same period in the prior year, the firm posted ($0.55) EPS. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts expect that Appian Co. will post -1.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Barclays lowered their price objective on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research report on Monday, August 5th. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. 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 report on Friday, August 2nd. Finally, DA Davidson cut shares of Appian from a “strong-buy” rating to a “hold” rating in a research 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 issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $39.20.

View Our Latest Stock Report on APPN

Institutional Investors Weigh In On Appian

A number of institutional investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its stake in Appian by 3.0% during the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after acquiring an additional 280 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Appian by 3.4% during 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. ProShare Advisors LLC boosted its stake in Appian by 10.0% during the first quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock worth $333,000 after acquiring an additional 758 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Appian by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after acquiring an additional 1,027 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after acquiring an additional 1,088 shares in the last quarter. 52.70% of the stock is owned by institutional investors.

About Appian

(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.