Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Acquires 1,486 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 1,486 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of $32.98 per share, for a total transaction of $49,008.28. Following the completion of the transaction, the insider now directly owns 10,088,411 shares in the company, valued at $332,715,794.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large 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 Friday, September 13th, Abdiel Capital Advisors, Lp purchased 7,501 shares of Appian stock. The shares were acquired at an average cost 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 stock was acquired at an average cost of $31.20 per share, with a total value of $679,192.80.
• On Monday, September 9th, Abdiel Capital Advisors, Lp bought 23,053 shares of Appian stock. The shares were acquired at an average cost of $30.22 per share, for a total transaction of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp acquired 20,014 shares of Appian stock. The shares were bought at an average cost 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 bought at an average cost of $31.24 per share, for a total transaction of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp bought 10,400 shares of Appian stock. The shares were bought at an average cost of $31.74 per share, with a total value of $330,096.00.
• On Friday, August 23rd, Abdiel Capital Advisors, Lp purchased 19,879 shares of Appian stock. The stock was bought at an average price of $31.55 per share, for a total transaction of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp acquired 25,000 shares of Appian stock. The shares were purchased at an average price 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 shares were purchased at an average cost of $31.10 per share, with a total value of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp acquired 266,976 shares of Appian stock. The stock was purchased at an average cost of $30.50 per share, for a total transaction of $8,142,768.00.

Appian Trading Down 1.0 %

Shares of NASDAQ APPN opened at $33.12 on Wednesday. The business’s 50 day moving average price is $32.26 and its 200-day moving average price is $33.08. Appian Co. has a fifty-two week low of $26.28 and a fifty-two week high of $47.24. 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 cap of $2.39 billion, a price-to-earnings ratio of -22.53 and a beta of 1.56.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.05. The business had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the company earned ($0.55) earnings per share. On average, sell-side analysts expect that Appian Co. will post -1.07 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Appian

Several large investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Appian by 70.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after purchasing an additional 196,435 shares during the period. GSA Capital Partners LLP bought a new stake in Appian during the 1st quarter valued at $1,708,000. Hawk Ridge Capital Management LP lifted its holdings in shares of 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 buying an additional 236,230 shares during the period. Vanguard Group Inc. grew its position in shares of Appian by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after buying an additional 392,190 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of Appian by 5.6% during the first quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock valued at $70,169,000 after buying an additional 93,251 shares during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

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.