Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Buys 20,014 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 20,014 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were bought at an average price of $31.21 per share, with a total value of $624,636.94. Following the completion of the acquisition, the insider now owns 9,988,095 shares of the company’s stock, valued at approximately $311,728,444.95. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 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 9th, Abdiel Capital Advisors, Lp bought 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 Wednesday, August 28th, Abdiel Capital Advisors, Lp purchased 23,126 shares of Appian stock. The shares were bought 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 acquired 10,400 shares of Appian stock. The shares were purchased 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 purchased at an average price 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, with a total value of $779,250.00.
• On Monday, August 19th, Abdiel Capital Advisors, Lp purchased 25,205 shares of Appian stock. The stock was purchased at an average cost of $31.10 per share, with a total value of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp acquired 266,976 shares of Appian stock. The shares were acquired at an average cost of $30.50 per share, for a total transaction of $8,142,768.00.
• On Wednesday, August 14th, Abdiel Capital Advisors, Lp purchased 274,583 shares of Appian stock. The shares were acquired at an average price of $30.05 per share, for a total transaction of $8,251,219.15.
• On Monday, August 12th, Abdiel Capital Advisors, Lp acquired 53,000 shares of Appian stock. The stock was acquired at an average cost of $27.92 per share, with a total value of $1,479,760.00.
• On Friday, August 9th, Abdiel Capital Advisors, Lp bought 75,000 shares of Appian stock. The shares were acquired at an average cost of $28.15 per share, for a total transaction of $2,111,250.00.

Appian Trading Up 0.2 %

Shares of Appian stock opened at $31.45 on Thursday. Appian Co. has a 1 year low of $26.28 and a 1 year high of $49.99. The company’s fifty day simple moving average is $32.16 and its 200-day simple moving average is $33.13. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -21.39 and a beta of 1.56. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share 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 firm had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. During the same period in the prior year, the firm earned ($0.55) EPS. The business’s revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts expect that Appian Co. will post -1.07 EPS for the current year.

Hedge Funds Weigh In On Appian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 during the period. Hawk Ridge Capital Management LP raised its stake in shares of Appian by 14.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock valued at $70,043,000 after purchasing an additional 236,230 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Appian by 5.6% in the first quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock valued at $70,169,000 after purchasing an additional 93,251 shares in the last quarter. First Trust Advisors LP boosted 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 buying an additional 317,411 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Appian by 70.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after buying an additional 196,435 shares during the period. 52.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on APPN shares. KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. DA Davidson downgraded Appian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Barclays lowered their target price on shares of Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research note on Monday, August 5th. Finally, The Goldman Sachs Group cut their target price 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.