Abdiel Capital Advisors, Lp Buys 1,712 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was bought at an average price of $32.91 per share, with a total value of $56,341.92. Following the purchase, the insider now owns 10,169,273 shares of the company’s stock, valued at approximately $334,670,774.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 23rd, Abdiel Capital Advisors, Lp acquired 15,552 shares of Appian stock. The stock was purchased at an average cost of $33.08 per share, with a total value of $514,460.16.
• On Friday, September 20th, Abdiel Capital Advisors, Lp purchased 7,957 shares of Appian stock. The stock was purchased at an average price of $33.55 per share, with a total value of $266,957.35.
• On Wednesday, September 18th, Abdiel Capital Advisors, Lp acquired 11,798 shares of Appian stock. The shares were purchased at an average price of $33.25 per share, for a total transaction of $392,283.50.
• On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The shares were acquired at an average price of $32.98 per share, with a total value of $49,008.28.
• On Friday, September 13th, Abdiel Capital Advisors, Lp purchased 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 shares were acquired at an average cost of $31.20 per share, with a total value of $679,192.80.
• On Monday, September 9th, Abdiel Capital Advisors, Lp bought 23,053 shares of Appian stock. The stock was bought at an average price of $30.22 per share, with a total value of $696,661.66.
• On Thursday, September 5th, Abdiel Capital Advisors, Lp purchased 20,014 shares of Appian stock. The shares were 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 purchased 23,126 shares of Appian stock. The stock was bought 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 acquired 10,400 shares of Appian stock. The shares were bought at an average price of $31.74 per share, with a total value of $330,096.00.

Appian Trading Up 2.0 %

Shares of NASDAQ:APPN opened at $34.97 on Friday. Appian Co. has a twelve month low of $26.28 and a twelve month high of $46.56. 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 firm has a market cap of $2.53 billion, a P/E ratio of -23.79 and a beta of 1.56. The company has a 50 day moving average of $32.17 and a 200-day moving average of $33.01.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Barclays decreased their target price 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. DA Davidson lowered shares of Appian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Finally, KeyCorp lowered Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.20.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Appian by 35.8% in the 2nd 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 last quarter. Algert Global LLC raised its holdings in shares of Appian by 7.7% in the 2nd quarter. Algert Global LLC now owns 50,263 shares of the company’s stock worth $1,551,000 after purchasing an additional 3,614 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Appian by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock valued at $648,000 after purchasing an additional 689 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in Appian during the second quarter valued at approximately $433,000. Finally, Empyrean Capital Partners LP bought a new stake in Appian during the second quarter worth approximately $7,715,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.