Insider Purchase: Appian Co. (NASDAQ:APPN) Majority Shareholder Acquires 10,400 Shares

Major shareholder Appian Co. (NASDAQ:APPN – Get Free Report) Abdiel Capital Advisors, Lp acquired 10,400 shares of the stock in a transaction on Monday, August 26th. The stock was purchased at an average price of $31.74 per share, with a total value of $330,096.00. Following the purchase, the insider now directly owns 9,837,813 shares in the company, valued at $312,252,184.62. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders who own 10% or more of a company’s stock are required to disclose their sales and purchases to the SEC.

Abdiel Capital Advisors, Lp also recently made the following transactions:

• On Friday, August 23rd, Abdiel Capital Advisors, Lp purchased 19,879 shares of Appian stock. The shares were purchased at an average price of $31.55 per share, with a total value of $627,182.45.
• On Wednesday, August 21st, Abdiel Capital Advisors, Lp purchased 25,000 shares of Appian stock. The stock was purchased at an average price of $31.17 per share, with a total value of $779,250.00.
• On Monday, August 19th, Abdiel Capital Advisors, Lp acquired 25,205 shares of Appian stock. The shares were purchased at an average price of $31.10 per share, with a total value of $783,875.50.
• On Friday, August 16th, Abdiel Capital Advisors, Lp purchased 266,976 shares of Appian stock. The shares were purchased at an average price of $30.50 per share, with a total value of $8,142,768.00.
• On Wednesday, August 14th, Abdiel Capital Advisors, Lp purchased 274,583 shares of Appian stock. The shares were bought at an average price of $30.05 per share, with a total value of $8,251,219.15.
• On Monday, August 12th, Abdiel Capital Advisors, Lp purchased 53,000 shares of Appian stock. The stock was bought at an average price of $27.92 per share, with a total value of $1,479,760.00.
• On Friday, August 9th, Abdiel Capital Advisors, Lp acquired 75,000 shares of Appian stock. The shares were bought at an average price of $28.15 per share, with a total value of $2,111,250.00.
• On Wednesday, August 7th, Abdiel Capital Advisors, Lp purchased 150,000 shares of Appian stock. The stock was bought at an average price of $27.11 per share, with a total value of $4,066,500.00.
• On Wednesday, July 31st, Abdiel Capital Advisors, Lp purchased 150,000 shares of Appian stock. The shares were bought at an average price of $36.74 per share, with a total value of $5,511,000.00.
• On Monday, July 29th, Abdiel Capital Advisors, Lp purchased 150,000 shares of Appian stock. The shares were bought at an average price of $37.76 per share, with a total value of $5,664,000.00.

Appian stock up 1.1%

Shares of Appian stock opened at $31.79 on Tuesday. The company has a market cap of $2.30 billion, a P/E ratio of -21.63 and a beta of 1.47. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.33, and a current ratio of 1.33. Appian Co. has a one year low of $26.28 and a one year high of $52.99. The firm has a fifty day moving average of $31.61 and a two hundred day moving average of $33.36.

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

Hedge funds weigh Appian

A number of large investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its position in Appian by 3.0% during the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after buying an additional 280 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Appian by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock worth $648,000 after purchasing an additional 689 shares during the period. ProShare Advisors LLC grew its stake in Appian by 10.0% in the first quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock worth $333,000 after purchasing an additional 758 shares during the period. Victory Capital Management Inc. raised its stake in shares of Appian by 22.9% during the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after purchasing an additional 1,027 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after purchasing an additional 1,088 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s shares.

Analysts set new price targets

Several analysts recently weighed in on the stock. Barclays decreased their price objective 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 downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a research report 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. Goldman Sachs Group cut 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. Finally, KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $39.20, based on data from MarketBeat.com.

Check out our latest review of Appian

About Appian

(Get a 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 provides artificial intelligence, process automation, data fabric and process mining. It offers the Appian Platform, an integrated automation platform that enables organizations to design, automate and optimize critical business processes.

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