Appian Co. (NASDAQ:APPN) Major Shareholder Acquires $392,283.50 in Stock

by · The Markets Daily

Appian Co. (NASDAQ:APPN – Get Free Report) major shareholder Abdiel Capital Advisors, Lp purchased 11,798 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was purchased at an average cost of $33.25 per share, with a total value of $392,283.50. Following the purchase, the insider now owns 10,111,445 shares in the company, valued at $336,205,546.25. The acquisition was disclosed in a filing with the SEC, which is available at 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, September 20th, Abdiel Capital Advisors, Lp acquired 7,957 shares of Appian stock. The stock was acquired at an average price of $33.55 per share, for a total transaction of $266,957.35.
  • On Monday, September 16th, Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock. The stock was acquired at an average price of $32.98 per share, for a total transaction of $49,008.28.
  • On Friday, September 13th, Abdiel Capital Advisors, Lp purchased 7,501 shares of Appian stock. The shares were acquired at an average price of $32.73 per share, with a total value 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 bought 23,053 shares of Appian stock. The shares were bought at an average cost of $30.22 per share, with a total value 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 bought 23,126 shares of Appian stock. The stock was bought at an average price of $31.24 per share, with a total value of $722,456.24.
  • On Monday, August 26th, Abdiel Capital Advisors, Lp purchased 10,400 shares of Appian stock. The shares were purchased at an average price 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 purchased 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 bought 25,000 shares of Appian stock. The shares were purchased at an average price of $31.17 per share, with a total value of $779,250.00.

Appian Trading Down 1.0 %

Shares of NASDAQ:APPN opened at $33.41 on Friday. Appian Co. has a 52 week low of $26.28 and a 52 week high of $46.56. The company’s 50 day moving average is $32.29 and its two-hundred day moving average is $33.07. The company has a market cap of $2.41 billion, a PE ratio of -22.73 and a beta of 1.56. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.05. The firm 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 532.05% and a negative net margin of 18.80%. Appian’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.55) earnings per share. Equities analysts predict that Appian Co. will post -1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Get Our Latest Report on Appian

Institutional Investors Weigh In On Appian

Several institutional investors have recently added to or reduced their stakes in APPN. Point72 Asia Singapore Pte. Ltd. increased its stake in Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after purchasing an additional 1,088 shares during the last quarter. Algert Global LLC grew its position in shares of Appian by 7.7% in the 2nd quarter. Algert Global LLC now owns 50,263 shares of the company’s stock valued at $1,551,000 after buying an additional 3,614 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Appian by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock valued at $648,000 after buying an additional 689 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in Appian in the second quarter valued at $433,000. Finally, Empyrean Capital Partners LP acquired a new position in Appian in the second quarter valued at $7,715,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Company Profile

(Get Free Report)

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.

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