Appian (NASDAQ:APPN) Stock Price Up 4.6% on Insider Buying Activity

Appian Co. (NASDAQ:APPN) shares traded up 4.6% during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $34.22 and last traded at $34.08. 233,318 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 553,928 shares. The stock had previously closed at $32.57.

Specifically, major shareholder Abdiel Capital Advisors, Lp purchased 1,712 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was bought at an average cost of $32.91 per share, with a total value of $56,341.92. Following the completion of the transaction, the insider now owns 10,169,273 shares of the company’s stock, valued at approximately $334,670,774.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp acquired 15,552 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average cost of $33.08 per share, for a total transaction of $514,460.16. Following the transaction, the insider now owns 10,142,000 shares of the company’s stock, valued at approximately $335,497,360. The disclosure for this purchase can be found here. In other Appian news, major shareholder Abdiel Capital Advisors, Lp bought 7,957 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was purchased at an average cost of $33.55 per share, with a total value of $266,957.35. Following the transaction, the insider now directly owns 10,126,448 shares in the company, valued at approximately $339,742,330.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

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

Appian Price Performance

The firm has a market cap of $2.52 billion, a P/E ratio of -23.77 and a beta of 1.56. The business’s fifty day simple moving average is $32.17 and its 200-day simple moving average is $33.02. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping the consensus estimate 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 business had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. During the same quarter last year, the company earned ($0.55) EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. As a group, analysts forecast that Appian Co. will post -1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Neo Ivy Capital Management bought a new stake in Appian during the second quarter valued at $65,000. Concord Wealth Partners bought a new stake in shares of Appian during the 1st quarter valued at about $85,000. Canada Pension Plan Investment Board purchased a new position in shares of Appian during the second quarter worth about $96,000. nVerses Capital LLC bought a new position in shares of Appian in the second quarter worth approximately $105,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Appian in the second quarter valued at approximately $121,000. 52.70% of the stock is owned by institutional investors.

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.