Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Purchases 10,265 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 10,265 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were acquired at an average cost of $33.75 per share, for a total transaction of $346,443.75. Following the transaction, the insider now directly owns 10,179,538 shares in the company, valued at approximately $343,559,407.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 25th, Abdiel Capital Advisors, Lp acquired 1,712 shares of Appian stock. The shares were acquired at an average cost of $32.91 per share, for a total transaction of $56,341.92.
• On Monday, September 23rd, Abdiel Capital Advisors, Lp purchased 15,552 shares of Appian stock. The stock was bought at an average price of $33.08 per share, for a total transaction of $514,460.16.
• On Friday, September 20th, Abdiel Capital Advisors, Lp acquired 7,957 shares of Appian stock. The shares were bought 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 bought 11,798 shares of Appian stock. The shares were acquired at an average price of $33.25 per share, for a total transaction of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The stock was purchased 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 bought 7,501 shares of Appian stock. The shares were purchased at an average cost of $32.73 per share, for a total transaction 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 acquired 23,053 shares of Appian stock. The shares were bought 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 purchased 20,014 shares of Appian stock. The shares were acquired 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 purchased at an average cost of $31.24 per share, for a total transaction of $722,456.24.

Appian Stock Performance

APPN stock traded down $0.05 during midday trading on Thursday, reaching $34.00. The company had a trading volume of 321,041 shares, compared to its average volume of 547,942. The firm has a market capitalization of $2.46 billion, a PE ratio of -23.13 and a beta of 1.56. The stock has a 50 day moving average price of $32.00 and a 200 day moving average price of $32.95. Appian Co. has a fifty-two week low of $26.28 and a fifty-two week high of $44.44. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. 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 business earned ($0.55) EPS. The firm’s revenue was up 14.7% on a year-over-year basis. Analysts anticipate that Appian Co. will post -1.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on APPN shares. DA Davidson cut shares of Appian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. The Goldman Sachs Group cut their price objective on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. KeyCorp lowered Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Finally, Barclays lowered their price target on Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Appian currently has a consensus rating of “Hold” and an average target price of $39.20.

Institutional Inflows and Outflows

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