Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Advisors, Lp Acquires 60,722 Shares

Appian Co. (NASDAQ:APPNGet Free Report) major shareholder Abdiel Capital Advisors, Lp bought 60,722 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was acquired at an average price of $31.34 per share, for a total transaction of $1,903,027.48. Following the acquisition, the insider now directly owns 6,426,026 shares in the company, valued at $201,391,654.84. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Friday, July 5th, Abdiel Capital Advisors, Lp purchased 475,000 shares of Appian stock. The shares were bought at an average price of $30.94 per share, with a total value of $14,696,500.00.

Appian Trading Up 0.8 %

Shares of Appian stock opened at $32.02 on Wednesday. The stock has a fifty day moving average price of $30.38 and a 200-day moving average price of $33.81. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $2.31 billion, a PE ratio of -21.78 and a beta of 1.48. Appian Co. has a 1 year low of $26.28 and a 1 year high of $52.99.

Appian (NASDAQ:APPNGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.09). Appian had a negative return on equity of 204.82% and a negative net margin of 19.20%. The company had revenue of $149.80 million during the quarter, compared to the consensus estimate of $149.78 million. During the same period in the prior year, the firm posted ($0.42) EPS. The business’s revenue was up 10.8% on a year-over-year basis. Equities research analysts anticipate that Appian Co. will post -1.38 EPS for the current year.

Hedge Funds Weigh In On Appian

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Appian by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after buying an additional 392,190 shares during the last quarter. Hawk Ridge Capital Management LP boosted its position in Appian by 14.5% during the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after purchasing an additional 236,230 shares during the period. Baillie Gifford & Co. increased its stake in shares of Appian by 5.6% in the first quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock worth $70,169,000 after purchasing an additional 93,251 shares in the last quarter. First Trust Advisors LP raised its position in shares of Appian by 31.6% in the fourth quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock valued at $49,812,000 after purchasing an additional 317,411 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Appian by 70.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after buying an additional 196,435 shares in the last quarter. 52.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on APPN shares. Barclays dropped their target price on Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. KeyCorp dropped their price objective on Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. William Blair reiterated an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. Finally, Citigroup raised their price target on shares of Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Appian has an average rating of “Moderate Buy” and a consensus price target of $46.43.

View Our Latest Analysis on APPN

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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