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

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 1,486 shares of the stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of $32.98 per share, with a total value of $49,008.28. Following the completion of the transaction, the insider now directly owns 10,088,411 shares in the company, valued at approximately $332,715,794.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 stock was bought 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 bought 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 acquired at an average cost of $31.21 per share, for a total transaction 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 price of $31.24 per share, for a total transaction of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp purchased 10,400 shares of Appian stock. The stock was acquired 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 acquired 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 bought 25,000 shares of Appian stock. The shares were purchased at an average cost of $31.17 per share, with a total value of $779,250.00.
• On Monday, August 19th, Abdiel Capital Advisors, Lp bought 25,205 shares of Appian stock. The shares were acquired at an average price of $31.10 per share, for a total transaction of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp acquired 266,976 shares of Appian stock. The shares were bought at an average cost of $30.50 per share, for a total transaction of $8,142,768.00.

Appian Price Performance

NASDAQ:APPN traded down $0.35 during mid-day trading on Tuesday, hitting $33.12. 317,882 shares of the company’s stock traded hands, compared to its average volume of 560,874. 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 Co. has a 1 year low of $26.28 and a 1 year high of $47.24. The company has a market cap of $2.39 billion, a PE ratio of -22.53 and a beta of 1.56. The firm’s 50 day simple moving average is $32.26 and its 200 day simple moving average is $33.08.

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

Institutional Trading of Appian

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

Analyst Upgrades and Downgrades

A number of research firms have commented on APPN. The Goldman Sachs Group reduced their target price on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. William Blair downgraded shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. DA Davidson downgraded Appian from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Barclays decreased their price objective on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Appian currently has an average rating of “Hold” and a consensus price target of $39.20.

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.