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

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 11,798 shares of Appian stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average cost of $33.25 per share, for a total transaction of $392,283.50. Following the purchase, the insider now owns 10,111,445 shares of the company’s stock, valued at $336,205,546.25. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 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 20th, Abdiel Capital Advisors, Lp purchased 7,957 shares of Appian stock. The stock was bought at an average cost of $33.55 per share, with a total value of $266,957.35.
• On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The stock was bought at an average price of $32.98 per share, for a total transaction of $49,008.28.
• On Friday, September 13th, Abdiel Capital Advisors, Lp acquired 7,501 shares of Appian stock. The stock was 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 purchased 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 bought 23,053 shares of Appian stock. The shares were acquired 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 bought 20,014 shares of Appian stock. The stock was acquired 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 cost 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 shares were bought at an average price of $31.74 per share, for a total transaction of $330,096.00.
• On Friday, August 23rd, Abdiel Capital Advisors, Lp purchased 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 acquired 25,000 shares of Appian stock. The shares were bought at an average cost of $31.17 per share, for a total transaction of $779,250.00.

Appian Stock Performance

NASDAQ APPN opened at $33.41 on Friday. The company has a market capitalization of $2.41 billion, a PE ratio of -22.73 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 52-week low of $26.28 and a 52-week high of $46.56. The company has a 50-day simple moving average of $32.29 and a 200 day simple moving average of $33.07.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping 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 analysts’ expectations of $142.87 million. During the same quarter in the previous year, the firm posted ($0.55) EPS. Appian’s revenue was up 14.7% on a year-over-year basis. On average, research analysts predict that Appian Co. will post -1.07 EPS for the current year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

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

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.