Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Purchases $2,923,800.00 in Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp bought 82,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were purchased at an average cost of $35.44 per share, with a total value of $2,923,800.00. Following the acquisition, the insider now directly owns 7,618,147 shares of the company’s stock, valued at $269,987,129.68. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% 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 Friday, July 26th, Abdiel Capital Advisors, Lp purchased 32,500 shares of Appian stock. The shares were acquired at an average cost of $37.54 per share, with a total value of $1,220,050.00.
• On Monday, July 22nd, Abdiel Capital Advisors, Lp acquired 62,500 shares of Appian stock. The stock was acquired at an average cost of $34.91 per share, for a total transaction 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 cost of $35.29 per share, with a total value of $7,058,000.00.
• On Tuesday, July 16th, Abdiel Capital Advisors, Lp purchased 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 bought at an average price of $33.35 per share, with a total value of $837,785.35.
• On Wednesday, July 10th, Abdiel Capital Advisors, Lp bought 100,000 shares of Appian stock. The stock was bought at an average price 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 bought 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 acquired 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 %

Shares of NASDAQ APPN opened at $37.75 on Monday. Appian Co. has a 52-week low of $26.28 and a 52-week high of $52.99. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.68. The company’s 50-day simple moving average is $30.96 and its 200-day simple moving average is $33.71. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -25.68 and a beta of 1.48.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) earnings per share (EPS) 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 firm had revenue of $149.80 million during the quarter, compared to analyst estimates of $149.78 million. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts predict that Appian Co. will post -1.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on APPN shares. Barclays decreased their target price on shares of Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, May 3rd. KeyCorp increased their target price on shares of Appian from $37.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. 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, Appian currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Appian by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock worth $4,443,000 after buying an additional 13,046 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Appian during the 2nd quarter valued at about $65,000. Price T Rowe Associates Inc. MD raised its holdings in Appian by 5.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,097 shares of the company’s stock valued at $1,203,000 after acquiring an additional 1,494 shares during the last quarter. Boulder Hill Capital Management LP purchased a new position in Appian in the 1st quarter worth approximately $1,678,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings 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 worth $18,922,000 after purchasing an additional 196,435 shares during the last quarter. 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.