Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Acquires 7,957 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 7,957 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were bought at an average price of $33.55 per share, for a total transaction of $266,957.35. Following the completion of the acquisition, the insider now owns 10,126,448 shares in the company, valued at $339,742,330.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Abdiel Capital Advisors, Lp also recently made the following trade(s):

• On Wednesday, September 18th, Abdiel Capital Advisors, Lp purchased 11,798 shares of Appian stock. The shares were bought at an average cost of $33.25 per share, with a total value of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp purchased 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 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 bought 21,769 shares of Appian stock. The stock was purchased at an average price of $31.20 per share, for a total transaction 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 acquired 20,014 shares of Appian stock. The stock was purchased at an average cost of $31.21 per share, for a total transaction 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, with a total value of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp purchased 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 acquired 19,879 shares of Appian stock. The stock was acquired 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 shares were acquired at an average price of $31.17 per share, for a total transaction of $779,250.00.

Appian Trading Down 1.0 %

Shares of APPN opened at $33.41 on Friday. 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 stock has a 50-day moving average price of $32.29 and a 200 day moving average price of $33.07. The company has a market capitalization of $2.41 billion, a P/E ratio of -22.73 and a beta of 1.56.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping 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 quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.55) earnings per share. Sell-side analysts forecast that Appian Co. will post -1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Appian by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after acquiring an additional 392,190 shares in the last quarter. First Trust Advisors LP lifted its stake in Appian by 31.6% during the fourth quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after purchasing an additional 317,411 shares during the last quarter. Norges Bank acquired a new position in Appian in the fourth quarter worth $10,534,000. Empyrean Capital Partners LP bought a new stake in Appian during the second quarter valued at $7,715,000. Finally, Hawk Ridge Capital Management LP raised its holdings in shares of Appian by 14.5% during the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after purchasing an additional 236,230 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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