Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Buys 1,712 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 1,712 shares of Appian stock in a transaction dated Wednesday, September 25th. The stock was bought at an average cost of $32.91 per share, with a total value of $56,341.92. Following the completion of the transaction, the insider now owns 10,169,273 shares in the company, valued at approximately $334,670,774.43. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Major 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 Monday, September 23rd, Abdiel Capital Advisors, Lp acquired 15,552 shares of Appian stock. The shares were purchased at an average price of $33.08 per share, with a total value of $514,460.16.
• On Friday, September 20th, Abdiel Capital Advisors, Lp purchased 7,957 shares of Appian stock. The stock was acquired at an average price of $33.55 per share, with a total value of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp purchased 11,798 shares of Appian stock. The stock was 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 bought 1,486 shares of Appian stock. The shares were purchased at an average cost of $32.98 per share, with a total value of $49,008.28.
• On Friday, September 13th, Abdiel Capital Advisors, Lp bought 7,501 shares of Appian stock. The shares were acquired 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 acquired 21,769 shares of Appian stock. The stock was bought 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 bought 23,053 shares of Appian stock. The shares were purchased at an average cost 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 shares were acquired at an average price of $31.21 per share, for a total transaction of $624,636.94.
• On Wednesday, August 28th, Abdiel Capital Advisors, Lp acquired 23,126 shares of Appian stock. The stock was purchased at an average price 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, with a total value of $330,096.00.

Appian Stock Performance

Shares of APPN stock traded up $1.70 during mid-day trading on Wednesday, hitting $34.27. 384,567 shares of the stock were exchanged, compared to its average volume of 554,745. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -23.31 and a beta of 1.56. Appian Co. has a 12-month low of $26.28 and a 12-month high of $46.56. The stock’s fifty day simple moving average is $32.20 and its two-hundred day simple moving average is $33.00. 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 quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating 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 analyst estimates of $142.87 million. During the same period in the previous year, the business posted ($0.55) earnings per share. Appian’s quarterly revenue was up 14.7% on a year-over-year basis. On average, analysts forecast that Appian Co. will post -1.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on APPN. DA Davidson cut 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 report on Thursday, August 1st. The Goldman Sachs Group lowered 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. 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. Finally, KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. One 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 stock. According to MarketBeat.com, Appian presently has an average rating of “Hold” and a consensus price target of $39.20.

Hedge Funds Weigh In On Appian

Several institutional investors have recently bought and sold shares of APPN. Point72 Asia Singapore Pte. Ltd. raised its position in Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after acquiring an additional 1,088 shares in the last quarter. Algert Global LLC lifted its stake in shares of Appian by 7.7% during the second quarter. Algert Global LLC now owns 50,263 shares of the company’s stock valued at $1,551,000 after buying an additional 3,614 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Appian by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock valued at $648,000 after buying an additional 689 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in shares of Appian in the 2nd quarter worth $433,000. Finally, Empyrean Capital Partners LP acquired a new position in shares of Appian during the 2nd quarter valued at $7,715,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.