Appian Corp (NASDAQ:APPN) major shareholder Abdiel Capital Management, Llc acquired 36,100 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was acquired at an average price of $24.72 per share, for a total transaction of $892,392.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Abdiel Capital Management, Llc also recently made the following trade(s):
- On Friday, October 19th, Abdiel Capital Management, Llc acquired 54,043 shares of Appian stock. The stock was acquired at an average price of $23.68 per share, for a total transaction of $1,279,738.24.
- On Wednesday, October 3rd, Abdiel Capital Management, Llc acquired 80,883 shares of Appian stock. The stock was acquired at an average price of $28.64 per share, for a total transaction of $2,316,489.12.
Shares of APPN traded up $0.38 on Thursday, reaching $26.09. The stock had a trading volume of 929,157 shares, compared to its average volume of 514,800. The stock has a market cap of $1.61 billion, a PE ratio of -42.77 and a beta of 0.56. Appian Corp has a 12-month low of $19.62 and a 12-month high of $43.61.
Appian (NASDAQ:APPN) last released its earnings results on Thursday, August 2nd. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.03. The company had revenue of $59.88 million during the quarter, compared to analysts’ expectations of $50.31 million. Appian had a negative return on equity of 81.10% and a negative net margin of 16.28%. The firm’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. Sell-side analysts predict that Appian Corp will post -0.75 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on APPN shares. BidaskClub upgraded Appian from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Barclays upgraded Appian from an “underweight” rating to an “equal weight” rating and set a $29.00 price objective on the stock in a research report on Monday, October 15th. Zacks Investment Research lowered Appian from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Canaccord Genuity lifted their price objective on Appian from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, August 3rd. Finally, Morgan Stanley lifted their price objective on Appian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $27.29.
Several institutional investors and hedge funds have recently added to or reduced their stakes in APPN. Frontier Capital Management Co. LLC purchased a new position in shares of Appian in the 2nd quarter valued at approximately $10,308,000. Oakcliff Capital Partners LP purchased a new position in shares of Appian in the 2nd quarter valued at approximately $8,434,000. First Trust Advisors LP purchased a new position in shares of Appian in the 3rd quarter valued at approximately $2,565,000. Cortina Asset Management LLC lifted its stake in shares of Appian by 43.7% in the 2nd quarter. Cortina Asset Management LLC now owns 152,791 shares of the company’s stock valued at $5,525,000 after purchasing an additional 46,439 shares during the period. Finally, Nepsis Inc. lifted its stake in shares of Appian by 29.6% in the 2nd quarter. Nepsis Inc. now owns 184,101 shares of the company’s stock valued at $6,657,000 after purchasing an additional 41,999 shares during the period. Institutional investors own 17.31% of the company’s stock.
Appian Company Profile
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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