Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Acquires 1,486 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 1,486 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $32.98 per share, for a total transaction of $49,008.28. Following the completion of the acquisition, the insider now owns 10,088,411 shares of the company’s stock, valued at $332,715,794.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Large 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 Friday, September 13th, Abdiel Capital Advisors, Lp bought 7,501 shares of Appian stock. The shares were bought 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 purchased 21,769 shares of Appian stock. The stock was bought 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 bought 23,053 shares of Appian stock. The stock was bought at an average price 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 shares were purchased at an average cost of $31.21 per share, with a total value of $624,636.94.
• On Wednesday, August 28th, Abdiel Capital Advisors, Lp bought 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 acquired 10,400 shares of Appian stock. The shares were acquired 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 bought 19,879 shares of Appian stock. The shares were acquired at an average price of $31.55 per share, for a total transaction of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp purchased 25,000 shares of Appian stock. The stock was acquired at an average price of $31.17 per share, with a total value of $779,250.00.
• On Monday, August 19th, Abdiel Capital Advisors, Lp acquired 25,205 shares of Appian stock. The shares were bought at an average price of $31.10 per share, for a total transaction of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp bought 266,976 shares of Appian stock. The stock was bought at an average price of $30.50 per share, with a total value of $8,142,768.00.

Appian Price Performance

Shares of APPN opened at $33.12 on Wednesday. The business’s 50-day moving average is $32.26 and its two-hundred day moving average is $33.08. The company has a market capitalization of $2.39 billion, a P/E ratio of -22.53 and a beta of 1.56. Appian Co. has a fifty-two week low of $26.28 and a fifty-two week high of $47.24. 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 posted its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.05. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The firm had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. During the same period last year, the company earned ($0.55) earnings per share. Appian’s revenue for the quarter was up 14.7% compared to the same quarter last year. Research analysts predict that Appian Co. will post -1.07 earnings per share for the current year.

Institutional Trading of Appian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new position in shares of Appian in the second quarter worth about $65,000. Concord Wealth Partners purchased a new position in Appian during the first quarter worth approximately $85,000. Canada Pension Plan Investment Board acquired a new stake in Appian in the second quarter valued at approximately $96,000. nVerses Capital LLC purchased a new stake in shares of Appian in the second quarter valued at approximately $105,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Appian during the 2nd quarter valued at approximately $121,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

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