Abdiel Capital Advisors, Lp Acquires 53,000 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 53,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $27.92 per share, for a total transaction of $1,479,760.00. Following the completion of the purchase, the insider now owns 8,433,847 shares in the company, valued at $235,473,008.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major 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, August 9th, Abdiel Capital Advisors, Lp bought 75,000 shares of Appian stock. The shares were purchased at an average cost of $28.15 per share, with a total value of $2,111,250.00.
• On Wednesday, August 7th, Abdiel Capital Advisors, Lp acquired 150,000 shares of Appian stock. The shares were purchased at an average cost of $27.11 per share, for a total transaction of $4,066,500.00.
• On Wednesday, July 31st, Abdiel Capital Advisors, Lp acquired 150,000 shares of Appian stock. The stock was acquired at an average cost of $36.74 per share, for a total transaction of $5,511,000.00.
• On Monday, July 29th, Abdiel Capital Advisors, Lp acquired 150,000 shares of Appian stock. The shares were purchased at an average price of $37.76 per share, with a total value of $5,664,000.00.
• On Friday, July 26th, Abdiel Capital Advisors, Lp acquired 32,500 shares of Appian stock. The shares were acquired at an average cost of $37.54 per share, with a total value of $1,220,050.00.
• On Wednesday, July 24th, Abdiel Capital Advisors, Lp bought 82,500 shares of Appian stock. The shares were purchased at an average cost of $35.44 per share, for a total transaction of $2,923,800.00.
• On Monday, July 22nd, Abdiel Capital Advisors, Lp bought 62,500 shares of Appian stock. The shares were purchased at an average cost of $34.91 per share, for a total transaction of $2,181,875.00.
• On Thursday, July 18th, Abdiel Capital Advisors, Lp purchased 200,000 shares of Appian stock. The shares were acquired at an average cost of $35.29 per share, with a total value of $7,058,000.00.
• On Tuesday, July 16th, Abdiel Capital Advisors, Lp acquired 40,000 shares of Appian stock. The stock was bought at an average price of $35.16 per share, with a total value of $1,406,400.00.
• On Friday, July 12th, Abdiel Capital Advisors, Lp acquired 25,121 shares of Appian stock. The shares were bought at an average cost of $33.35 per share, with a total value of $837,785.35.

Appian Stock Up 0.1 %

NASDAQ:APPN traded up $0.04 during trading hours on Wednesday, hitting $30.04. 758,544 shares of the stock traded hands, compared to its average volume of 583,283. The firm has a 50 day moving average price of $31.08 and a 200 day moving average price of $33.48. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -20.48 and a beta of 1.47. Appian Co. has a fifty-two week low of $26.28 and a fifty-two week high of $52.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05. Appian had a negative return on equity of 234.57% and a negative net margin of 18.80%. The firm had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. During the same period in the previous year, the firm earned ($0.55) earnings per share. Appian’s quarterly revenue was up 14.7% on a year-over-year basis. Equities research analysts anticipate that Appian Co. will post -1.38 earnings per share for the current year.

Wall Street Analyst Weigh In

APPN has been the subject of several research analyst reports. DA Davidson cut Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group lowered their price target on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Barclays cut their price target on shares of Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a report on Monday, August 5th. KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Finally, William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. One investment 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 data from MarketBeat.com, Appian currently has a consensus rating of “Hold” and an average price target of $39.20.

Institutional Investors Weigh In On Appian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. boosted its position in Appian by 3.0% during the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock valued at $299,000 after purchasing an additional 280 shares during the last quarter. Arizona State Retirement System grew its stake in shares of 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 buying an additional 411 shares in the last quarter. ProShare Advisors LLC increased its holdings in Appian by 10.0% in the first quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock worth $333,000 after buying an additional 758 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Appian by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after buying an additional 1,027 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Appian during the fourth quarter valued at approximately $47,000. Hedge funds and other 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.