Abdiel Capital Advisors, Lp Buys 32,500 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 32,500 shares of Appian stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $37.54 per share, for a total transaction of $1,220,050.00. Following the acquisition, the insider now directly owns 7,655,847 shares in the company, valued at approximately $287,400,496.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, July 24th, Abdiel Capital Advisors, Lp purchased 82,500 shares of Appian stock. The shares were purchased at an average price of $35.44 per share, for a total transaction of $2,923,800.00.
• On Monday, July 22nd, Abdiel Capital Advisors, Lp acquired 62,500 shares of Appian stock. The stock was purchased at an average price of $34.91 per share, with a total value of $2,181,875.00.
• On Thursday, July 18th, Abdiel Capital Advisors, Lp bought 200,000 shares of Appian stock. The shares were acquired at an average price of $35.29 per share, for a total transaction of $7,058,000.00.
• On Tuesday, July 16th, Abdiel Capital Advisors, Lp bought 40,000 shares of Appian stock. The stock was 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 acquired 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 bought 100,000 shares of Appian stock. The shares were acquired at an average cost of $32.91 per share, with a total value of $3,291,000.00.
• On Monday, July 8th, Abdiel Capital Advisors, Lp bought 60,722 shares of Appian stock. The shares were acquired at an average price of $31.34 per share, with a total value of $1,903,027.48.
• On Friday, July 5th, Abdiel Capital Advisors, Lp purchased 475,000 shares of Appian stock. The stock was bought at an average price of $30.94 per share, for a total transaction of $14,696,500.00.

Appian Stock Up 0.7 %

APPN stock opened at $37.75 on Monday. The stock has a market capitalization of $2.73 billion, a P/E ratio of -25.68 and a beta of 1.48. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.33 and a quick ratio of 1.33. Appian Co. has a 1-year low of $26.28 and a 1-year high of $52.99. The business has a fifty day moving average price of $30.96 and a 200-day moving average price of $33.71.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in Appian by 10.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock worth $4,443,000 after purchasing an additional 13,046 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Appian in the 2nd quarter worth $65,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Appian by 5.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,097 shares of the company’s stock worth $1,203,000 after acquiring an additional 1,494 shares during the period. Boulder Hill Capital Management LP purchased a new stake in Appian during the first quarter valued at $1,678,000. Finally, CANADA LIFE ASSURANCE Co increased its position in Appian by 70.7% during the first 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 last quarter. Institutional investors own 52.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on APPN. Barclays dropped 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. KeyCorp increased their price objective on shares of Appian from $37.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

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.