Abdiel Capital Advisors, Lp Acquires 10,265 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 10,265 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was purchased at an average price of $33.75 per share, for a total transaction of $346,443.75. Following the completion of the acquisition, the insider now owns 10,179,538 shares of the company’s stock, valued at approximately $343,559,407.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, September 25th, Abdiel Capital Advisors, Lp acquired 1,712 shares of Appian stock. The stock was purchased at an average price of $32.91 per share, with a total value of $56,341.92.
• On Monday, September 23rd, Abdiel Capital Advisors, Lp bought 15,552 shares of Appian stock. The shares were acquired at an average price of $33.08 per share, for a total transaction of $514,460.16.
• On Friday, September 20th, Abdiel Capital Advisors, Lp purchased 7,957 shares of Appian stock. The shares were acquired at an average cost of $33.55 per share, for a total transaction of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp acquired 11,798 shares of Appian stock. The stock was acquired 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 bought 1,486 shares of Appian stock. The shares were 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 acquired 7,501 shares of Appian stock. The stock was bought at an average cost 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 stock was 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 purchased 23,053 shares of Appian stock. The shares were purchased at an average cost of $30.22 per share, with a total value 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, for a total transaction of $624,636.94.
• On Wednesday, August 28th, Abdiel Capital Advisors, Lp purchased 23,126 shares of Appian stock. The stock was acquired at an average price of $31.24 per share, for a total transaction of $722,456.24.

Appian Price Performance

Shares of APPN opened at $33.83 on Friday. Appian Co. has a fifty-two week low of $26.28 and a fifty-two week high of $44.44. The firm has a market capitalization of $2.44 billion, a PE ratio of -23.01 and a beta of 1.57. The company’s 50-day moving average is $31.92 and its 200-day moving average is $32.90. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.24 and a quick ratio of 1.24.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. DA Davidson lowered Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Barclays decreased 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. KeyCorp lowered shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group lowered 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.20.

Hedge Funds Weigh In On Appian

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in 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 in the last quarter. Hawk Ridge Capital Management LP grew its position in Appian by 14.5% during the fourth 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 in the last quarter. Baillie Gifford & Co. increased its stake in Appian by 5.6% during the 1st quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock worth $70,169,000 after acquiring an additional 93,251 shares during the period. First Trust Advisors LP raised its holdings in Appian by 31.6% in the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock valued at $49,812,000 after acquiring an additional 317,411 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted 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 acquiring an additional 196,435 shares during the period. 52.70% of the stock is currently owned by institutional investors and hedge funds.

About Appian

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.