Abdiel Capital Advisors, Lp Buys 7,957 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 7,957 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average cost of $33.55 per share, with a total value of $266,957.35. Following the transaction, the insider now directly owns 10,126,448 shares of the company’s stock, valued at approximately $339,742,330.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, September 18th, Abdiel Capital Advisors, Lp acquired 11,798 shares of Appian stock. The shares were bought at an average cost of $33.25 per share, with a total value of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The stock was purchased at an average price of $32.98 per share, for a total transaction of $49,008.28.
• On Friday, September 13th, Abdiel Capital Advisors, Lp acquired 7,501 shares of Appian stock. The stock was purchased at an average price of $32.73 per share, for a total transaction of $245,507.73.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp bought 21,769 shares of Appian stock. The shares were purchased 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 purchased 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 stock was acquired 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 purchased 23,126 shares of Appian stock. The shares were acquired at an average cost of $31.24 per share, with a total value of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp acquired 10,400 shares of Appian stock. The stock was bought at an average cost of $31.74 per share, for a total transaction of $330,096.00.
• On Friday, August 23rd, Abdiel Capital Advisors, Lp bought 19,879 shares of Appian stock. The stock was bought at an average cost of $31.55 per share, with a total value of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp bought 25,000 shares of Appian stock. The shares were bought at an average price of $31.17 per share, for a total transaction of $779,250.00.

Appian Stock Performance

Shares of APPN stock opened at $33.41 on Friday. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -22.73 and a beta of 1.56. Appian Co. has a one year low of $26.28 and a one year high of $46.56. The company’s 50-day simple moving average is $32.29 and its 200-day simple moving average is $33.07. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, August 1st. The company reported ($0.26) EPS 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 company had revenue of $146.50 million for the quarter, compared to the consensus estimate of $142.87 million. During the same quarter last year, the business posted ($0.55) EPS. Appian’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts anticipate that Appian Co. will post -1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Appian

A number of institutional investors and hedge funds have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its position in shares of Appian by 70.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after buying an additional 196,435 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Appian during the first quarter valued at approximately $1,708,000. Hawk Ridge Capital Management LP raised its position in shares of Appian by 14.5% during the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after purchasing an additional 236,230 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Appian by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after purchasing an additional 392,190 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Appian during the 2nd quarter valued at approximately $4,657,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.