Abdiel Capital Advisors, Lp Acquires 1,486 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 1,486 shares of the stock in a transaction on Monday, September 16th. The shares were purchased at an average price of $32.98 per share, with a total value of $49,008.28. Following the acquisition, the insider now directly owns 10,088,411 shares in the company, valued at $332,715,794.78. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock 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 purchased 7,501 shares of Appian stock. The shares were 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 purchased 21,769 shares of Appian stock. The shares were 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 purchased 23,053 shares of Appian stock. The shares were 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 bought 20,014 shares of Appian stock. The stock was 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 bought 23,126 shares of Appian stock. The stock was 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 bought 10,400 shares of Appian stock. The stock was 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 bought 19,879 shares of Appian stock. The stock was 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 bought 25,000 shares of Appian stock. The stock was bought 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 purchased 25,205 shares of Appian stock. The shares were acquired at an average price of $31.10 per share, with a total value of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp purchased 266,976 shares of Appian stock. The shares were acquired at an average price of $30.50 per share, with a total value of $8,142,768.00.

Appian Stock Up 0.1 %

Shares of Appian stock opened at $33.15 on Thursday. The company has a market cap of $2.39 billion, a P/E ratio of -22.55 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 Co. has a one year low of $26.28 and a one year high of $46.56. The firm has a fifty day moving average of $32.27 and a two-hundred day moving average of $33.08.

Appian (NASDAQ:APPN) last announced its quarterly 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. The business had revenue of $146.50 million during the quarter, compared to the consensus estimate 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 was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.55) EPS. On average, analysts forecast that Appian Co. will post -1.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. DA Davidson cut shares of Appian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Barclays cut 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. Finally, The Goldman Sachs Group cut their price objective 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. One equities research 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.20.

Hedge Funds Weigh In On Appian

Large investors have recently made changes to their positions in the stock. Neo Ivy Capital Management purchased a new position in shares of Appian in the 2nd quarter valued at about $65,000. Concord Wealth Partners purchased a new position in shares of Appian in the 1st quarter valued at about $85,000. Canada Pension Plan Investment Board purchased a new position in shares of Appian in the 2nd quarter valued at about $96,000. nVerses Capital LLC purchased a new position in shares of Appian in the 2nd quarter valued at about $105,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Appian in the 2nd quarter valued at about $121,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.