Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Acquires 7,501 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 7,501 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $32.73 per share, with a total value of $245,507.73. Following the completion of the purchase, the insider now owns 10,086,925 shares in the company, valued at approximately $330,145,055.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 Monday, September 16th, Abdiel Capital Advisors, Lp acquired 1,486 shares of Appian stock. The stock was purchased at an average price of $32.98 per share, with a total value of $49,008.28.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp bought 21,769 shares of Appian stock. The shares were purchased at an average cost 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 stock was acquired 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 bought 23,126 shares of Appian stock. The shares were acquired at an average price of $31.24 per share, with a total value of $722,456.24.
• On Monday, August 26th, Abdiel Capital Advisors, Lp purchased 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 price of $31.55 per share, for a total transaction of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp purchased 25,000 shares of Appian stock. The stock was bought at an average cost of $31.17 per share, for a total transaction of $779,250.00.
• On Monday, August 19th, Abdiel Capital Advisors, Lp bought 25,205 shares of Appian stock. The stock was purchased at an average price of $31.10 per share, with a total value of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp purchased 266,976 shares of Appian stock. The shares were purchased at an average price of $30.50 per share, for a total transaction of $8,142,768.00.

Appian Price Performance

NASDAQ APPN opened at $33.12 on Wednesday. The company has a market cap of $2.39 billion, a P/E ratio of -22.53 and a beta of 1.56. Appian Co. has a 1 year low of $26.28 and a 1 year high of $47.24. 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 company has a fifty day simple moving average of $32.26 and a 200 day simple moving average of $33.08.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping 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 company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.55) EPS. On average, sell-side analysts predict that Appian Co. will post -1.07 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Appian

Several institutional investors and hedge funds have recently bought and sold shares of APPN. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after acquiring an additional 1,088 shares during the period. Algert Global LLC lifted its holdings in Appian by 7.7% during the 2nd quarter. Algert Global LLC now owns 50,263 shares of the company’s stock valued at $1,551,000 after purchasing an additional 3,614 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position 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 buying an additional 689 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in Appian during the second quarter worth about $433,000. Finally, Empyrean Capital Partners LP bought a new stake in Appian during the second quarter worth about $7,715,000. Institutional investors own 52.70% of the company’s stock.

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.