Insider Buying: Appian Co. (NASDAQ:APPN) Major Shareholder Acquires 60,722 Shares of Stock

Appian Co. (NASDAQ:APPNGet Free Report) major shareholder Abdiel Capital Advisors, Lp acquired 60,722 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was purchased at an average cost of $31.34 per share, with a total value of $1,903,027.48. Following the transaction, the insider now owns 6,426,026 shares of the company’s stock, valued at $201,391,654.84. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more 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, July 5th, Abdiel Capital Advisors, Lp acquired 475,000 shares of Appian stock. The stock was purchased at an average cost of $30.94 per share, with a total value of $14,696,500.00.

Appian Trading Up 0.8 %

APPN traded up $0.24 during trading on Tuesday, hitting $32.02. 663,767 shares of the company’s stock were exchanged, compared to its average volume of 507,970. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. Appian Co. has a 1 year low of $26.28 and a 1 year high of $52.99. The stock has a 50 day moving average price of $30.38 and a 200 day moving average price of $33.81. The firm has a market cap of $2.31 billion, a P/E ratio of -21.78 and a beta of 1.48.

Appian (NASDAQ:APPNGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The firm had revenue of $149.80 million during the quarter, compared to analysts’ expectations of $149.78 million. Appian had a negative net margin of 19.20% and a negative return on equity of 204.82%. Appian’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.42) earnings per share. As a group, analysts expect that Appian Co. will post -1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in shares of Appian during the fourth quarter worth $47,000. Concord Wealth Partners acquired a new stake in shares of Appian in the 1st quarter worth about $85,000. Quest Partners LLC acquired a new stake in shares of Appian in the 4th quarter worth about $177,000. Victory Capital Management Inc. increased its holdings in shares of Appian by 22.9% in the 4th quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock worth $207,000 after acquiring an additional 1,027 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Appian in the 1st quarter worth about $220,000. 52.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on APPN shares. Citigroup boosted their price objective 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. Barclays dropped their price target on shares of Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. William Blair reaffirmed an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. Finally, KeyCorp dropped their price target on shares of Appian from $50.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. One equities research 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 data from MarketBeat, Appian has a consensus rating of “Moderate Buy” and a consensus target price of $46.43.

View 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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Insider Buying and Selling by Quarter for Appian (NASDAQ:APPN)

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