Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $346,443.75 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of the stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average cost of $33.75 per share, for a total transaction of $346,443.75. Following the completion of the transaction, the insider now owns 10,179,538 shares of the company’s stock, valued at $343,559,407.50. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major 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 25th, Abdiel Capital Advisors, Lp bought 1,712 shares of Appian stock. The stock was acquired at an average cost of $32.91 per share, for a total transaction of $56,341.92.
• On Monday, September 23rd, Abdiel Capital Advisors, Lp purchased 15,552 shares of Appian stock. The shares were acquired at an average price of $33.08 per share, with a total value of $514,460.16.
• On Friday, September 20th, Abdiel Capital Advisors, Lp acquired 7,957 shares of Appian stock. The stock was bought at an average price of $33.55 per share, for a total transaction of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp bought 11,798 shares of Appian stock. The shares were bought at an average price of $33.25 per share, with a total value of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp purchased 1,486 shares of Appian stock. The stock was bought 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 bought 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 purchased 21,769 shares of Appian stock. The shares were purchased at an average price of $31.20 per share, for a total transaction of $679,192.80.
• On Monday, September 9th, Abdiel Capital Advisors, Lp acquired 23,053 shares of Appian stock. The shares were purchased 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 purchased at an average price 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 purchased at an average cost of $31.24 per share, with a total value of $722,456.24.

Appian Trading Down 0.5 %

APPN opened at $33.83 on Friday. Appian Co. has a 1-year low of $26.28 and a 1-year high of $44.44. The stock has a market capitalization of $2.44 billion, a PE ratio of -23.01 and a beta of 1.57. 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 firm has a 50-day moving average price of $31.92 and a two-hundred day moving average price of $32.90.

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

Institutional Investors Weigh In On Appian

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Appian during the third quarter worth approximately $398,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after purchasing an additional 1,088 shares during the last quarter. Algert Global LLC grew its stake in shares of Appian by 7.7% during the second quarter. Algert Global LLC now owns 50,263 shares of the company’s stock worth $1,551,000 after purchasing an additional 3,614 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Appian by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock valued at $648,000 after purchasing an additional 689 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in Appian in the second quarter valued at about $433,000. Institutional investors own 52.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APPN. KeyCorp lowered shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. DA Davidson cut shares of Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group decreased their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Barclays cut their target price 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. Finally, William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.