Abdiel Capital Management, Llc Acquires 45,000 Shares of Appian Co. (NASDAQ:APPN) Stock

Posted by MarketBeat News on Jan 21st, 2023

Appian Co. (NASDAQ:APPN – Get Rating) major shareholder Abdiel Capital Management, Llc purchased 45,000 shares of the business’s stock in a transaction on Tuesday, January 17th. The shares were acquired at an average cost of $36.87 per share, with a total value of $1,659,150.00. Following the acquisition, the insider now directly owns 9,127,518 shares in the company, valued at $336,531,588.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

On Thursday, January 19th, Abdiel Capital Management, Llc purchased 100,000 shares of Appian stock. The shares were acquired at an average cost of $36.84 per share, with a total value of $3,684,000.00.
On Friday, January 13th, Abdiel Capital Management, Llc purchased 50,000 shares of Appian stock. The shares were acquired at an average cost of $35.40 per share, with a total value of $1,770,000.00.
On Wednesday, January 11th, Abdiel Capital Management, Llc purchased 175,000 shares of Appian stock. The shares were acquired at an average cost of $31.98 per share, with a total value of $5,596,500.00.
On Monday, November 14th, Abdiel Capital Management, Llc purchased 44,978 shares of Appian stock. The shares were acquired at an average cost of $39.14 per share, with a total value of $1,760,438.92.
On Friday, November 11th, Abdiel Capital Management, Llc bought 121,853 shares of Appian stock. The shares were purchased at an average cost of $40.33 per share, with a total value of $4,914,331.49.
On Wednesday, November 9th, Abdiel Capital Management, Llc bought 30,000 shares of Appian stock. The shares were purchased at an average cost of $35.78 per share, with a total value of $1,073,400.00.
On Tuesday, November 1st, Abdiel Capital Management, Llc bought 60,900 shares of Appian stock. The shares were purchased at an average cost of $49.85 per share, with a total value of $3,035,865.00.

Appian Stock Up 5.4 %

Appian stock opened at $38.61 on Friday. Appian Co. has a 12-month low of $29.80 and a 12-month high of $66.91. The business’s 50-day moving average price is $35.71 and its two-hundred day moving average price is $42.84. The stock has a market cap of $2.80 billion, a PE ratio of -19.60 and a beta of 1.58.

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Appian (NASDAQ:APPN – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.27). Appian had a negative net margin of 31.83% and a negative return on equity of 53.25%. The business had revenue of $117.88 million during the quarter, compared to the consensus estimate of $116.11 million. During the same quarter in the prior year, the firm earned ($0.29) EPS. The business’s revenue was up 27.5% on a year-over-year basis. As a group, analysts expect that Appian Co. will post -1.86 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on APPN. Truist Financial dropped their target price on Appian from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday. The Goldman Sachs Group dropped their price target on Appian from $71.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 7th. Citigroup dropped their price target on Appian from $55.00 to $46.00 in a research note on Friday, October 21st. KeyCorp dropped their price target on Appian from $55.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Credit Suisse Group began coverage on Appian in a research note on Friday, September 23rd. They issued a “neutral” rating and a $45.00 price target for the company. Two analysts have 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 data from MarketBeat, Appian currently has an average rating of “Hold” and an average target price of $43.33.

Institutional Trading of Appian

Hedge funds and other institutional investors have recently made changes to their positions in the company. Heritage Wealth Management LLC bought a new stake in shares of Appian during the second quarter worth about $27,000. Parkwood LLC bought a new stake in shares of Appian during the second quarter worth about $39,000. Evermay Wealth Management LLC bought a new stake in shares of Appian during the fourth quarter worth about $47,000. Captrust Financial Advisors grew its holdings in shares of Appian by 44.1% during the second quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock worth $63,000 after purchasing an additional 404 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Appian during the third quarter worth about $69,000. 50.89% of the stock is currently owned by institutional investors.

Appian Company Profile

(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.