Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $1,903,027.48 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 60,722 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was purchased at an average price of $31.34 per share, with a total value of $1,903,027.48. Following the completion of the transaction, the insider now owns 6,426,026 shares of the company’s stock, valued at $201,391,654.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% 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, July 5th, Abdiel Capital Advisors, Lp acquired 475,000 shares of Appian stock. The stock was purchased at an average price of $30.94 per share, with a total value of $14,696,500.00.

Appian Trading Down 1.1 %

NASDAQ:APPN opened at $32.49 on Friday. Appian Co. has a fifty-two week low of $26.28 and a fifty-two 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. The stock has a market capitalization of $2.35 billion, a PE ratio of -22.10 and a beta of 1.48. The business’s 50-day simple moving average is $30.34 and its 200-day simple moving average is $33.79.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.09). Appian had a negative net margin of 19.20% and a negative return on equity of 204.82%. The business had revenue of $149.80 million for the quarter, compared to the consensus estimate of $149.78 million. During the same quarter last year, the firm earned ($0.42) EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts expect that Appian Co. will post -1.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on APPN. KeyCorp reduced their target price on Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Citigroup raised their target price on Appian from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Barclays reduced their target price on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. Finally, William Blair restated an “outperform” rating on shares of Appian in a report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.43.

Institutional Investors Weigh In On Appian

Several institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its stake in Appian by 4.6% in the 4th quarter. Arizona State Retirement System now owns 9,308 shares of the company’s stock valued at $351,000 after acquiring an additional 411 shares in the last quarter. ProShare Advisors LLC lifted its stake in Appian by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock valued at $333,000 after acquiring an additional 758 shares in the last quarter. Victory Capital Management Inc. lifted its stake 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 acquiring an additional 1,027 shares in the last quarter. Headlands Technologies LLC bought a new stake in Appian in the 4th quarter valued at approximately $47,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Appian by 5.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,097 shares of the company’s stock valued at $1,203,000 after acquiring an additional 1,494 shares in the last quarter. Institutional investors own 52.70% of the company’s stock.

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.