Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $779,250.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 25,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average cost of $31.17 per share, for a total transaction of $779,250.00. Following the completion of the transaction, the insider now directly owns 9,711,434 shares of the company’s stock, valued at approximately $302,705,397.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 Monday, August 19th, Abdiel Capital Advisors, Lp purchased 25,205 shares of Appian stock. The shares were purchased 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 stock was bought at an average cost of $30.50 per share, for a total transaction of $8,142,768.00.
• On Wednesday, August 14th, Abdiel Capital Advisors, Lp acquired 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 acquired 53,000 shares of Appian stock. The stock was bought at an average cost of $27.92 per share, for a total transaction of $1,479,760.00.
• On Friday, August 9th, Abdiel Capital Advisors, Lp acquired 75,000 shares of Appian stock. The stock was bought at an average cost of $28.15 per share, for a total transaction of $2,111,250.00.
• On Wednesday, August 7th, Abdiel Capital Advisors, Lp purchased 150,000 shares of Appian stock. The stock was acquired at an average price of $27.11 per share, for a total transaction of $4,066,500.00.
• On Wednesday, July 31st, Abdiel Capital Advisors, Lp purchased 150,000 shares of Appian stock. The stock was acquired at an average price of $36.74 per share, for a total transaction of $5,511,000.00.
• On Monday, July 29th, Abdiel Capital Advisors, Lp purchased 150,000 shares of Appian stock. The stock was acquired at an average price of $37.76 per share, for a total transaction of $5,664,000.00.
• On Friday, July 26th, Abdiel Capital Advisors, Lp acquired 32,500 shares of Appian stock. The shares were purchased at an average price of $37.54 per share, for a total transaction of $1,220,050.00.
• On Wednesday, July 24th, Abdiel Capital Advisors, Lp acquired 82,500 shares of Appian stock. The shares were purchased at an average price of $35.44 per share, for a total transaction of $2,923,800.00.

Appian Trading Down 0.5 %

NASDAQ APPN traded down $0.16 during trading hours on Wednesday, reaching $31.16. The company’s stock had a trading volume of 300,081 shares, compared to its average volume of 583,543. The firm has a fifty day simple moving average of $31.40 and a 200-day simple moving average of $33.37. The stock has a market cap of $2.25 billion, a P/E ratio of -21.20 and a beta of 1.47. Appian Co. has a 52 week low of $26.28 and a 52 week high of $52.99. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.33 and a quick ratio of 1.33.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. The business 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 234.57%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.55) EPS. Equities analysts forecast that Appian Co. will post -1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APPN. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Appian by 107.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,670 shares of the company’s stock worth $327,000 after purchasing an additional 4,490 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in shares of Appian during the 4th quarter worth approximately $7,955,000. Headlands Technologies LLC acquired a new stake in Appian in the 4th quarter valued at $47,000. Victory Capital Management Inc. grew its position in Appian by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after purchasing an additional 1,027 shares during the period. Finally, Summit Global Investments acquired a new stake in Appian in the 4th quarter valued at $310,000. Institutional investors own 52.70% of the company’s stock.

Analyst Ratings Changes

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

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.