Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $330,096.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 10,400 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was purchased at an average cost of $31.74 per share, with a total value of $330,096.00. Following the transaction, the insider now directly owns 9,837,813 shares in the company, valued at approximately $312,252,184.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Friday, August 23rd, Abdiel Capital Advisors, Lp bought 19,879 shares of Appian stock. The stock was purchased 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 purchased at an average cost of $31.17 per share, with a total value of $779,250.00.
• On Monday, August 19th, Abdiel Capital Advisors, Lp bought 25,205 shares of Appian stock. The stock was purchased at an average cost of $31.10 per share, with a total value of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp acquired 266,976 shares of Appian stock. The shares were bought at an average cost of $30.50 per share, with a total value of $8,142,768.00.
• On Wednesday, August 14th, Abdiel Capital Advisors, Lp acquired 274,583 shares of Appian stock. The shares were bought at an average cost of $30.05 per share, with a total value of $8,251,219.15.
• On Monday, August 12th, Abdiel Capital Advisors, Lp acquired 53,000 shares of Appian stock. The shares were bought at an average cost of $27.92 per share, with a total value of $1,479,760.00.
• On Friday, August 9th, Abdiel Capital Advisors, Lp bought 75,000 shares of Appian stock. The stock was acquired at an average cost of $28.15 per share, with a total value of $2,111,250.00.
• On Wednesday, August 7th, Abdiel Capital Advisors, Lp bought 150,000 shares of Appian stock. The stock was acquired at an average cost of $27.11 per share, with a total value 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 cost of $36.74 per share, for a total transaction of $5,511,000.00.
• On Monday, July 29th, Abdiel Capital Advisors, Lp bought 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.

Appian Price Performance

NASDAQ:APPN traded up $0.34 during trading hours on Monday, reaching $31.79. The stock had a trading volume of 340,232 shares, compared to its average volume of 579,862. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $2.30 billion, a PE ratio of -21.63 and a beta of 1.47. Appian Co. has a 52 week low of $26.28 and a 52 week high of $52.99. The company has a 50 day moving average price of $31.61 and a two-hundred day moving average price of $33.36.

Appian (NASDAQ:APPN) last announced 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. Appian had a negative net margin of 18.80% and a negative return on equity of 234.57%. The firm had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. During the same quarter last year, the firm earned ($0.55) EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Appian Co. will post -1.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of APPN. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Appian by 107.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,670 shares of the company’s stock valued at $327,000 after purchasing an additional 4,490 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Appian in the fourth quarter valued at approximately $47,000. Victory Capital Management Inc. grew its stake in Appian by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after purchasing an additional 1,027 shares in the last quarter. Summit Global Investments bought a new position in Appian in the fourth quarter worth approximately $310,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Appian by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 325,288 shares of the company’s stock worth $12,250,000 after purchasing an additional 5,538 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.