Appian Co. (NASDAQ:APPN) Major Shareholder Abdiel Capital Management, Llc Acquires 100,000 Shares

Appian Co. (NASDAQ:APPNGet Rating) major shareholder Abdiel Capital Management, Llc acquired 100,000 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was purchased at an average cost of $36.84 per share, with a total value of $3,684,000.00. Following the transaction, the insider now owns 9,402,518 shares of the company’s stock, valued at $346,388,763.12. 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 Management, Llc also recently made the following trade(s):

  • On Tuesday, January 17th, Abdiel Capital Management, Llc acquired 45,000 shares of Appian stock. The stock was purchased at an average cost of $36.87 per share, with a total value of $1,659,150.00.
  • On Friday, January 13th, Abdiel Capital Management, Llc acquired 50,000 shares of Appian stock. The stock was purchased 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 acquired 175,000 shares of Appian stock. The stock was purchased 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 acquired 44,978 shares of Appian stock. The stock was purchased 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 purchased 121,853 shares of Appian stock. The shares were bought 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 purchased 30,000 shares of Appian stock. The shares were bought 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 purchased 60,900 shares of Appian stock. The shares were bought at an average cost of $49.85 per share, with a total value of $3,035,865.00.

Appian Trading Up 5.4 %

Shares of APPN stock opened at $38.61 on Friday. The company has a market capitalization of $2.80 billion, a PE ratio of -19.60 and a beta of 1.58. The firm has a fifty day simple moving average of $35.71 and a 200-day simple moving average of $42.84. Appian Co. has a twelve month low of $29.80 and a twelve month high of $66.91.

Appian (NASDAQ:APPNGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.27). The firm had revenue of $117.88 million during the quarter, compared to analysts’ expectations of $116.11 million. Appian had a negative net margin of 31.83% and a negative return on equity of 53.25%. Appian’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.29) earnings per share. Equities research analysts predict that Appian Co. will post -1.86 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APPN. Heritage Wealth Management LLC bought a new position in Appian during the 2nd quarter valued at $27,000. Captrust Financial Advisors boosted its stake in Appian by 44.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock valued at $63,000 after acquiring an additional 404 shares during the last quarter. Evermay Wealth Management LLC bought a new position in Appian during the 4th quarter valued at $47,000. Total Clarity Wealth Management Inc. bought a new position in Appian during the 2nd quarter valued at $74,000. Finally, Point72 Hong Kong Ltd bought a new position in Appian during the 3rd quarter valued at $69,000. 50.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APPN has been the subject of several research analyst reports. Morgan Stanley dropped their price target on shares of Appian from $54.00 to $42.00 and set an “equal weight” rating for the company in a research report on Friday, November 4th. Truist Financial dropped their price target on shares of Appian from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday. Credit Suisse Group assumed coverage on shares of Appian in a research note on Friday, September 23rd. They set a “neutral” rating and a $45.00 price objective for the company. KeyCorp decreased their price objective on shares of Appian from $55.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group decreased their price objective on shares of Appian from $71.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.33.

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.

Further Reading

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

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