Abdiel Capital Advisors, Lp Acquires 475,000 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 475,000 shares of the stock in a transaction dated Friday, July 5th. The shares were purchased at an average price of $30.94 per share, for a total transaction of $14,696,500.00. Following the completion of the transaction, the insider now owns 6,365,304 shares in the company, valued at approximately $196,942,505.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Advisors, Lp also recently made the following trade(s):

• On Monday, July 8th, Abdiel Capital Advisors, Lp purchased 60,722 shares of Appian stock. The stock was acquired at an average price of $31.34 per share, for a total transaction of $1,903,027.48.

Appian Stock Up 2.6 %

NASDAQ:APPN opened at $32.84 on Thursday. The business’s fifty day moving average price is $30.31 and its 200 day moving average price is $33.80. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -22.34 and a beta of 1.48. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. Appian Co. has a 1-year low of $26.28 and a 1-year high of $52.99.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.09). The business had revenue of $149.80 million during the quarter, compared to analyst estimates of $149.78 million. Appian had a negative net margin of 19.20% and a negative return on equity of 204.82%. Appian’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.42) EPS. On average, sell-side analysts forecast that Appian Co. will post -1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Appian

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Appian by 8.4% in the first 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 last quarter. Hawk Ridge Capital Management LP increased its position in Appian by 14.5% in the 4th 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 last quarter. Baillie Gifford & Co. raised its stake in shares of Appian by 5.6% during the 1st quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock worth $70,169,000 after purchasing an additional 93,251 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock valued at $49,812,000 after buying an additional 317,411 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. Citigroup boosted their target price on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. KeyCorp decreased their price target on Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Finally, Barclays cut their price objective on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.43.

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.