Appian Co. (NASDAQ:APPN) Major Shareholder Purchases $346,443.75 in Stock

by · The Cerbat Gem

Appian Co. (NASDAQ:APPN – Get Free Report) major shareholder Abdiel Capital Advisors, Lp acquired 10,265 shares of Appian stock in a transaction dated Tuesday, October 1st. The stock was purchased at an average cost of $33.75 per share, with a total value of $346,443.75. Following the completion of the purchase, the insider now owns 10,179,538 shares of the company’s stock, valued at approximately $343,559,407.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Abdiel Capital Advisors, Lp also recently made the following trade(s):

  • On Wednesday, September 25th, Abdiel Capital Advisors, Lp acquired 1,712 shares of Appian stock. The stock was acquired at an average cost of $32.91 per share, with a total value of $56,341.92.
  • On Monday, September 23rd, Abdiel Capital Advisors, Lp bought 15,552 shares of Appian stock. The shares were acquired at an average cost of $33.08 per share, for a total transaction of $514,460.16.
  • On Friday, September 20th, Abdiel Capital Advisors, Lp acquired 7,957 shares of Appian stock. The shares were bought at an average cost of $33.55 per share, with a total value of $266,957.35.
  • On Wednesday, September 18th, Abdiel Capital Advisors, Lp bought 11,798 shares of Appian stock. The stock was bought at an average cost 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 bought at an average cost 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 bought 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 bought 21,769 shares of Appian stock. The stock was purchased at an average cost of $31.20 per share, for a total transaction of $679,192.80.
  • On Monday, September 9th, Abdiel Capital Advisors, Lp purchased 23,053 shares of Appian stock. The shares were purchased 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 purchased at an average cost 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 acquired at an average cost of $31.24 per share, with a total value of $722,456.24.

Appian Stock Down 0.5 %

Shares of NASDAQ APPN opened at $33.83 on Friday. The company has a market cap of $2.44 billion, a P/E ratio of -23.01 and a beta of 1.56. The firm has a 50-day simple moving average of $31.92 and a two-hundred day simple moving average of $32.93. Appian Co. has a 1 year low of $26.28 and a 1 year high of $44.44. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.24 and a quick ratio of 1.24.

Appian (NASDAQ:APPN – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) 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 analyst estimates of $142.87 million. During the same period last year, the company earned ($0.55) EPS. Appian’s quarterly revenue was up 14.7% compared to the same quarter last year. Research analysts anticipate that Appian Co. will post -1.07 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Appian in the 4th quarter worth about $10,534,000. Campbell & CO Investment Adviser LLC grew its stake in Appian by 295.3% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 26,931 shares of the company’s stock worth $1,014,000 after purchasing an additional 20,119 shares in the last quarter. First Trust Advisors LP increased its holdings in Appian by 31.6% during the 4th quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock worth $49,812,000 after purchasing an additional 317,411 shares during the period. Harber Asset Management LLC bought a new stake in Appian during the 4th quarter valued at $4,834,000. Finally, Hawk Ridge Capital Management LP lifted its holdings in shares of Appian by 14.5% in the 4th quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after buying an additional 236,230 shares during the period. 52.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Report on Appian

About Appian

(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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