Abdiel Capital Advisors, Lp Purchases 7,501 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 7,501 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $32.73 per share, with a total value of $245,507.73. Following the completion of the acquisition, the insider now directly owns 10,086,925 shares in the company, valued at $330,145,055.25. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% 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 Monday, September 16th, Abdiel Capital Advisors, Lp acquired 1,486 shares of Appian stock. The stock was bought at an average price of $32.98 per share, with a total value of $49,008.28.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp acquired 21,769 shares of Appian stock. The stock was bought 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 acquired 23,053 shares of Appian stock. The stock was bought 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 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 shares were acquired at an average cost of $31.24 per share, for a total transaction of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp bought 10,400 shares of Appian stock. The shares were acquired at an average cost of $31.74 per share, for a total transaction 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 cost 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 shares were purchased at an average cost of $31.17 per share, for a total transaction of $779,250.00.
• On Monday, August 19th, Abdiel Capital Advisors, Lp purchased 25,205 shares of Appian stock. The shares were purchased at an average cost of $31.10 per share, for a total transaction of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp purchased 266,976 shares of Appian stock. The stock was acquired at an average price of $30.50 per share, for a total transaction of $8,142,768.00.

Appian Stock Performance

Shares of NASDAQ:APPN opened at $33.15 on Thursday. The firm has a market capitalization of $2.39 billion, a PE ratio of -22.55 and a beta of 1.56. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day moving average of $32.27 and a two-hundred day moving average of $33.08. Appian Co. has a 12 month low of $26.28 and a 12 month high of $46.56.

Appian (NASDAQ:APPN) last announced its quarterly 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. The company had revenue of $146.50 million during the quarter, compared to analyst estimates of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.55) earnings per share. As a group, research analysts forecast that Appian Co. will post -1.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of APPN. Neo Ivy Capital Management purchased a new position in Appian in the second quarter valued at about $65,000. Concord Wealth Partners bought a new position in Appian during the 1st quarter worth approximately $85,000. Canada Pension Plan Investment Board bought a new position in Appian during the 2nd quarter worth approximately $96,000. nVerses Capital LLC bought a new position in Appian during the 2nd quarter worth approximately $105,000. Finally, Point72 Hong Kong Ltd bought a new position in Appian during the 2nd quarter worth approximately $121,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

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