Appian Corp (APPN) Major Shareholder Acquires $2,424,808.69 in Stock
Appian Corp (NASDAQ:APPN) major shareholder Abdiel Capital Management, Llc purchased 92,093 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The stock was acquired at an average cost of $26.33 per share, for a total transaction of $2,424,808.69. The purchase was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Abdiel Capital Management, Llc also recently made the following trade(s):
- On Monday, March 19th, Abdiel Capital Management, Llc purchased 70,209 shares of Appian stock. The stock was acquired at an average cost of $26.30 per share, for a total transaction of $1,846,496.70.
- On Thursday, March 15th, Abdiel Capital Management, Llc purchased 27,500 shares of Appian stock. The stock was acquired at an average cost of $25.91 per share, for a total transaction of $712,525.00.
Appian stock traded down $0.42 on Thursday, reaching $26.35. The company had a trading volume of 349,656 shares, compared to its average volume of 524,812. Appian Corp has a 1 year low of $14.60 and a 1 year high of $43.26.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its stake in Appian by 79.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,133 shares of the company’s stock worth $193,000 after acquiring an additional 2,715 shares in the last quarter. Citadel Advisors LLC acquired a new position in Appian during the 4th quarter worth about $220,000. New York State Common Retirement Fund acquired a new position in Appian during the 3rd quarter worth about $205,000. Deutsche Bank AG lifted its stake in Appian by 421.7% during the 4th quarter. Deutsche Bank AG now owns 7,945 shares of the company’s stock worth $250,000 after acquiring an additional 6,422 shares in the last quarter. Finally, Georgetown University acquired a new position in Appian during the 4th quarter worth about $420,000. 15.68% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on APPN. BTIG Research began coverage on Appian in a research note on Monday, March 12th. They issued a “neutral” rating on the stock. BidaskClub lowered Appian from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Cowen reaffirmed a “hold” rating and issued a $27.00 price target on shares of Appian in a research note on Friday, February 23rd. Zacks Investment Research lowered Appian from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research note on Friday, January 19th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.29.
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Appian Company Profile
Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.
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