Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Acquires 53,000 Shares

Appian Co. (NASDAQ:APPN) major shareholder Abdiel Capital Advisors, Lp purchased 53,000 shares of Appian stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $27.92 per share, with a total value of $1,479,760.00. Following the completion of the transaction, the insider now directly owns 8,433,847 shares in the company, valued at approximately $235,473,008.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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, August 9th, Abdiel Capital Advisors, Lp acquired 75,000 shares of Appian stock. The stock was bought at an average cost of $28.15 per share, with a total value of $2,111,250.00.
• On Wednesday, August 7th, Abdiel Capital Advisors, Lp bought 150,000 shares of Appian stock. The shares were purchased at an average cost of $27.11 per share, with a total value of $4,066,500.00.
• On Wednesday, July 31st, Abdiel Capital Advisors, Lp bought 150,000 shares of Appian stock. The shares were purchased at an average cost of $36.74 per share, for a total transaction of $5,511,000.00.
• On Monday, July 29th, Abdiel Capital Advisors, Lp bought 150,000 shares of Appian stock. The shares were acquired at an average price of $37.76 per share, for a total transaction of $5,664,000.00.
• On Friday, July 26th, Abdiel Capital Advisors, Lp acquired 32,500 shares of Appian stock. The shares were purchased at an average price of $37.54 per share, with a total value of $1,220,050.00.
• On Wednesday, July 24th, Abdiel Capital Advisors, Lp purchased 82,500 shares of Appian stock. The stock was acquired at an average cost of $35.44 per share, for a total transaction of $2,923,800.00.
• On Monday, July 22nd, Abdiel Capital Advisors, Lp bought 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 purchased 200,000 shares of Appian stock. The shares were purchased at an average cost 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 shares were purchased 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 bought 25,121 shares of Appian stock. The shares were acquired at an average cost of $33.35 per share, with a total value of $837,785.35.

Appian Stock Performance

APPN stock traded up $0.04 during trading on Wednesday, hitting $30.04. The company had a trading volume of 758,544 shares, compared to its average volume of 583,283. Appian Co. has a 1-year low of $26.28 and a 1-year high of $52.99. The firm has a 50-day moving average price of $31.08 and a 200-day moving average price of $33.48. 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 firm has a market cap of $2.17 billion, a PE ratio of -20.48 and a beta of 1.47.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. The company had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. Appian had a negative return on equity of 234.57% and a negative net margin of 18.80%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.55) EPS. On average, analysts expect that Appian Co. will post -1.38 earnings per share for the current year.

Hedge Funds Weigh In On Appian

A number of large investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Appian in the fourth quarter valued at approximately $47,000. Neo Ivy Capital Management acquired a new position in Appian during the second quarter worth approximately $65,000. Concord Wealth Partners purchased a new position in Appian during the first quarter worth approximately $85,000. Canada Pension Plan Investment Board purchased a new stake in shares of Appian during the 2nd quarter valued at $96,000. Finally, nVerses Capital LLC purchased a new position in shares of Appian in the 2nd quarter worth $105,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

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

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.