Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Buys 1,486 Shares of Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp acquired 1,486 shares of Appian stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average cost of $32.98 per share, with a total value of $49,008.28. Following the purchase, the insider now owns 10,088,411 shares in the company, valued at approximately $332,715,794.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% 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 Friday, September 13th, Abdiel Capital Advisors, Lp acquired 7,501 shares of Appian stock. The stock was acquired at an average price of $32.73 per share, for a total transaction of $245,507.73.
• On Wednesday, September 11th, Abdiel Capital Advisors, Lp acquired 21,769 shares of Appian stock. The stock was bought 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 price 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 stock was bought 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 acquired 23,126 shares of Appian stock. The stock was acquired at an average cost 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 bought 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 acquired 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 acquired 25,000 shares of Appian stock. The shares were purchased 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 shares were acquired at an average cost 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 acquired at an average cost of $30.50 per share, with a total value of $8,142,768.00.

Appian Stock Performance

APPN stock traded down $0.35 during midday trading on Tuesday, hitting $33.12. The company’s stock had a trading volume of 317,882 shares, compared to its average volume of 560,874. The stock’s 50-day moving average price is $32.26 and its 200 day moving average price is $33.08. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.68. The stock has a market cap of $2.39 billion, a price-to-earnings 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.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Appian

A number of large investors have recently added to or reduced their stakes in APPN. Victory Capital Management Inc. grew its stake in shares of Appian by 22.9% during the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after buying an additional 1,027 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Appian by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 325,288 shares of the company’s stock worth $12,250,000 after acquiring an additional 5,538 shares during the period. Norges Bank bought a new stake in shares of Appian during the 4th quarter valued at about $10,534,000. Quest Partners LLC purchased a new position in shares of Appian during the 4th quarter worth approximately $177,000. Finally, Campbell & CO Investment Adviser LLC grew its stake in Appian by 295.3% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 26,931 shares of the company’s stock worth $1,014,000 after purchasing an additional 20,119 shares during the period. Hedge funds and other 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.