Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Buys $392,283.50 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 11,798 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average price of $33.25 per share, with a total value of $392,283.50. Following the completion of the purchase, the insider now directly owns 10,111,445 shares of the company’s stock, valued at $336,205,546.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, September 20th, Abdiel Capital Advisors, Lp bought 7,957 shares of Appian stock. The shares were acquired at an average price of $33.55 per share, with a total value of $266,957.35.
• On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The shares were acquired at an average price of $32.98 per share, with a total value of $49,008.28.
• On Friday, September 13th, Abdiel Capital Advisors, Lp bought 7,501 shares of Appian stock. The shares were acquired at an average price of $32.73 per share, with a total value of $245,507.73.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp bought 21,769 shares of Appian stock. The shares were acquired at an average price 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 price of $30.22 per share, with a total value of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp purchased 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 purchased 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 purchased 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.
• On Friday, August 23rd, Abdiel Capital Advisors, Lp purchased 19,879 shares of Appian stock. The stock was purchased at an average price of $31.55 per share, with a total value of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp purchased 25,000 shares of Appian stock. The stock was purchased at an average price of $31.17 per share, with a total value of $779,250.00.

Appian Stock Performance

Shares of Appian stock opened at $33.41 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.68. The business has a 50-day moving average price of $32.29 and a two-hundred day moving average price of $33.05. Appian Co. has a 1-year low of $26.28 and a 1-year high of $46.56. The company has a market cap of $2.41 billion, a P/E ratio of -22.73 and a beta of 1.56.

Appian (NASDAQ:APPN) last issued its quarterly 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. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The firm had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. During the same period last year, the business posted ($0.55) EPS. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, analysts anticipate that Appian Co. will post -1.07 EPS for the current year.

Institutional Trading of Appian

Large investors have recently bought and sold shares of the business. Neo Ivy Capital Management acquired a new stake in Appian during the 2nd quarter worth about $65,000. Concord Wealth Partners acquired a new stake in shares of Appian in the 1st quarter valued at about $85,000. Canada Pension Plan Investment Board acquired a new stake in shares of Appian in the 2nd quarter valued at about $96,000. nVerses Capital LLC acquired a new stake in shares of Appian in the 2nd quarter valued at about $105,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Appian in the 2nd quarter valued at about $121,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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