Appian Co. (NASDAQ:APPN) Major Shareholder Buys $330,096.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 10,400 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were acquired at an average price of $31.74 per share, for a total transaction of $330,096.00. Following the acquisition, the insider now owns 9,837,813 shares in the company, valued at approximately $312,252,184.62. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Abdiel Capital Advisors, Lp also recently made the following trade(s):

• On Friday, August 23rd, Abdiel Capital Advisors, Lp acquired 19,879 shares of Appian stock. The shares were acquired at an average cost of $31.55 per share, for a total transaction of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp bought 25,000 shares of Appian stock. The shares were acquired 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 bought at an average cost of $31.10 per share, for a total transaction of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp acquired 266,976 shares of Appian stock. The shares were bought at an average cost of $30.50 per share, with a total value of $8,142,768.00.
• On Wednesday, August 14th, Abdiel Capital Advisors, Lp bought 274,583 shares of Appian stock. The stock was bought at an average cost of $30.05 per share, for a total transaction of $8,251,219.15.
• On Monday, August 12th, Abdiel Capital Advisors, Lp purchased 53,000 shares of Appian stock. The stock was bought 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 stock was purchased at an average price of $28.15 per share, for a total transaction of $2,111,250.00.
• On Wednesday, August 7th, Abdiel Capital Advisors, Lp bought 150,000 shares of Appian stock. The stock was acquired at an average cost of $27.11 per share, with a total value of $4,066,500.00.
• On Wednesday, July 31st, Abdiel Capital Advisors, Lp bought 150,000 shares of Appian stock. The stock was acquired at an average cost of $36.74 per share, with a total value of $5,511,000.00.
• On Monday, July 29th, Abdiel Capital Advisors, Lp acquired 150,000 shares of Appian stock. The shares were bought at an average cost of $37.76 per share, with a total value of $5,664,000.00.

Appian Stock Down 1.2 %

NASDAQ APPN opened at $31.20 on Thursday. Appian Co. has a 52 week low of $26.28 and a 52 week high of $52.99. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $2.25 billion, a P/E ratio of -21.22 and a beta of 1.47. The stock’s 50-day moving average price is $31.79 and its 200-day moving average price is $33.34.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. The company had revenue of $146.50 million for the quarter, compared to analysts’ expectations of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 234.57%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.55) EPS. On average, equities research analysts predict that Appian Co. will post -1.38 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Appian by 107.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,670 shares of the company’s stock valued at $327,000 after acquiring an additional 4,490 shares in the last quarter. Headlands Technologies LLC purchased a new position in Appian in the 4th quarter worth approximately $47,000. Victory Capital Management Inc. boosted its stake in Appian by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after purchasing an additional 1,027 shares during the period. Summit Global Investments purchased a new stake in Appian during the 4th quarter valued at approximately $310,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Appian by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,288 shares of the company’s stock valued at $12,250,000 after buying an additional 5,538 shares during the last quarter. Institutional investors own 52.70% of the company’s stock.

Analyst Upgrades and Downgrades

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