Abdiel Capital Advisors, Lp Purchases 15,552 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 15,552 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average cost of $33.08 per share, for a total transaction of $514,460.16. Following the completion of the purchase, the insider now owns 10,142,000 shares of the company’s stock, valued at $335,497,360. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Wednesday, September 25th, Abdiel Capital Advisors, Lp acquired 1,712 shares of Appian stock. The shares were acquired at an average price of $32.91 per share, for a total transaction of $56,341.92.
• On Friday, September 20th, Abdiel Capital Advisors, Lp acquired 7,957 shares of Appian stock. The shares were acquired at an average price of $33.55 per share, for a total transaction of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp acquired 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 acquired 1,486 shares of Appian stock. The shares were acquired 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 acquired 7,501 shares of Appian stock. The shares were acquired at an average price of $32.73 per share, for a total transaction of $245,507.73.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp acquired 21,769 shares of Appian stock. The shares were acquired 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 acquired at an average price of $30.22 per share, for a total transaction of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp bought 20,014 shares of Appian stock. The stock was purchased 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 stock was purchased at an average price of $31.24 per share, with a total value of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp bought 10,400 shares of Appian stock. The stock was purchased at an average price of $31.74 per share, with a total value of $330,096.00.

Appian Stock Performance

NASDAQ APPN opened at $34.97 on Friday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $2.53 billion, a PE ratio of -23.79 and a beta of 1.56. Appian Co. has a 52-week low of $26.28 and a 52-week high of $46.56. The company has a 50-day simple moving average of $32.17 and a 200 day simple moving average of $33.01.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. The firm had revenue of $146.50 million during the quarter, compared to analyst estimates of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.55) earnings per share. On average, research analysts predict 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 business. Neo Ivy Capital Management bought a new position in Appian during the second quarter worth about $65,000. Concord Wealth Partners bought a new position in Appian during the first quarter worth about $85,000. Canada Pension Plan Investment Board bought a new position in shares of Appian in the second quarter valued at approximately $96,000. nVerses Capital LLC bought a new position in shares of Appian in the second quarter valued at approximately $105,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Appian in the second quarter valued at approximately $121,000. Institutional investors own 52.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays lowered their target price on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a report on Monday, August 5th. KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. William Blair downgraded shares of Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. The Goldman Sachs Group decreased their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, DA Davidson downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. One investment 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’s stock. According to MarketBeat.com, the stock has a consensus 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.