Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Management, Llc Acquires 121,853 Shares

Appian Co. (NASDAQ:APPNGet Rating) major shareholder Abdiel Capital Management, Llc bought 121,853 shares of the company’s stock in a transaction dated Friday, November 11th. The stock was purchased at an average cost of $40.33 per share, for a total transaction of $4,914,331.49. Following the completion of the acquisition, the insider now owns 8,739,371 shares in the company, valued at approximately $352,458,832.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Abdiel Capital Management, Llc also recently made the following trade(s):

  • On Monday, November 14th, Abdiel Capital Management, Llc acquired 44,978 shares of Appian stock. The stock was acquired at an average price of $39.14 per share, for a total transaction of $1,760,438.92.
  • On Wednesday, November 9th, Abdiel Capital Management, Llc bought 30,000 shares of Appian stock. The shares were acquired at an average cost of $35.78 per share, for a total transaction of $1,073,400.00.
  • On Tuesday, November 1st, Abdiel Capital Management, Llc purchased 60,900 shares of Appian stock. The shares were acquired at an average cost of $49.85 per share, with a total value of $3,035,865.00.

Appian Stock Performance

NASDAQ:APPN opened at $39.00 on Tuesday. The company has a market cap of $2.83 billion, a price-to-earnings ratio of -19.80 and a beta of 1.63. Appian Co. has a fifty-two week low of $33.02 and a fifty-two week high of $90.26. The stock has a fifty day moving average price of $43.36 and a 200-day moving average price of $47.12.

Appian (NASDAQ:APPNGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.20). Appian had a negative net margin of 31.83% and a negative return on equity of 53.25%. The company had revenue of $117.88 million during the quarter, compared to analyst estimates of $116.11 million. During the same period last year, the firm earned ($0.29) EPS. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. Research analysts predict that Appian Co. will post -1.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APPN. Citigroup dropped their price objective on shares of Appian from $55.00 to $46.00 in a research report on Friday, October 21st. Credit Suisse Group started coverage on Appian in a report on Friday, September 23rd. They set a “neutral” rating and a $45.00 price objective for the company. KeyCorp assumed coverage on Appian in a research note on Monday, September 12th. They set an “overweight” rating and a $60.00 target price on the stock. Morgan Stanley reduced their price target on Appian from $54.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, November 4th. Finally, Barclays lowered their price objective on Appian from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $49.13.

Institutional Trading of Appian

Several large investors have recently made changes to their positions in APPN. Abdiel Capital Advisors LP boosted its holdings in shares of Appian by 39.9% in the 2nd quarter. Abdiel Capital Advisors LP now owns 8,328,118 shares of the company’s stock valued at $394,420,000 after purchasing an additional 2,375,584 shares in the last quarter. State Street Corp grew its position in Appian by 0.9% in the second quarter. State Street Corp now owns 819,791 shares of the company’s stock valued at $38,825,000 after acquiring an additional 7,151 shares during the last quarter. StackLine Partners LP raised its stake in Appian by 13.0% during the third quarter. StackLine Partners LP now owns 604,139 shares of the company’s stock worth $24,667,000 after acquiring an additional 69,655 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Appian by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 287,118 shares of the company’s stock worth $17,463,000 after acquiring an additional 7,481 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Appian in the 1st quarter valued at approximately $13,983,000. Institutional investors and hedge funds own 51.78% of the company’s stock.

About Appian

(Get Rating)

Appian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that are needed to be manually coded. The company also offers professional and customer support services.

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