Abdiel Capital Advisors, Lp Purchases 62,500 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 62,500 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were bought at an average price of $34.91 per share, for a total transaction of $2,181,875.00. Following the completion of the transaction, the insider now directly owns 7,495,647 shares of the company’s stock, valued at approximately $261,673,036.77. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• 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, for a total transaction of $7,058,000.00.
• On Tuesday, July 16th, Abdiel Capital Advisors, Lp purchased 40,000 shares of Appian stock. The shares were acquired at an average cost of $35.16 per share, for a total transaction of $1,406,400.00.
• On Friday, July 12th, Abdiel Capital Advisors, Lp purchased 25,121 shares of Appian stock. The shares were acquired at an average cost of $33.35 per share, for a total transaction of $837,785.35.
• On Wednesday, July 10th, Abdiel Capital Advisors, Lp purchased 100,000 shares of Appian stock. The shares were acquired at an average cost of $32.91 per share, for a total transaction of $3,291,000.00.
• On Monday, July 8th, Abdiel Capital Advisors, Lp purchased 60,722 shares of Appian stock. The shares were acquired at an average cost of $31.34 per share, for a total transaction of $1,903,027.48.
• On Friday, July 5th, Abdiel Capital Advisors, Lp purchased 475,000 shares of Appian stock. The shares were acquired at an average cost of $30.94 per share, for a total transaction of $14,696,500.00.

Appian Trading Up 6.9 %

Shares of APPN stock opened at $37.49 on Friday. The stock’s 50-day moving average price is $30.87 and its 200-day moving average price is $33.69. 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 Co. has a 12-month low of $26.28 and a 12-month high of $52.99. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -25.50 and a beta of 1.48.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.09). Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The company had revenue of $149.80 million for the quarter, compared to the consensus estimate of $149.78 million. During the same period in the previous year, the firm earned ($0.42) earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that Appian Co. will post -1.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. KeyCorp raised their price target on Appian from $37.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays reduced their target price on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Appian currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Hedge Funds Weigh In On Appian

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Appian by 3.4% during the third quarter. Vanguard Group Inc. now owns 4,556,543 shares of the company’s stock worth $207,824,000 after purchasing an additional 147,785 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Appian during the first quarter worth $1,708,000. Hawk Ridge Capital Management LP increased its position in shares of 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 purchasing an additional 236,230 shares in the last quarter. Roubaix Capital LLC acquired a new position in shares of Appian during the fourth quarter worth $2,190,000. Finally, SG Americas Securities LLC acquired a new position in shares of Appian during the fourth quarter worth $308,000. 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.