Appian Co. (NASDAQ:APPN – Get Rating) major shareholder Abdiel Capital Advisors, Lp purchased 38,000 shares of the business’s stock in a transaction dated Monday, January 23rd. The shares were purchased at an average cost of $39.95 per share, with a total value of $1,518,100.00. Following the completion of the purchase, the insider now directly owns 9,598,028 shares in the company, valued at $383,441,218.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Appian Stock Performance
Shares of NASDAQ APPN traded down $0.36 during mid-day trading on Tuesday, reaching $40.31. 458,442 shares of the company traded hands, compared to its average volume of 493,196. The stock has a market cap of $2.92 billion, a PE ratio of -20.46 and a beta of 1.58. The company’s fifty day moving average is $35.72 and its two-hundred day moving average is $42.54. Appian Co. has a fifty-two week low of $29.80 and a fifty-two week high of $66.91.
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). The business had revenue of $117.88 million during the quarter, compared to analyst estimates of $116.11 million. Appian had a negative net margin of 31.83% and a negative return on equity of 53.25%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period last year, the business earned ($0.29) EPS. Research analysts forecast that Appian Co. will post -1.86 earnings per share for the current year.
Institutional Trading of Appian
Wall Street Analyst Weigh In
APPN has been the subject of a number of recent research reports. KeyCorp cut 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, January 18th. Barclays cut their price target on Appian from $30.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, January 10th. The Goldman Sachs Group cut 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 lowered their price objective on Appian from $55.00 to $46.00 in a report on Friday, October 21st. Finally, Truist Financial lowered their price objective on Appian from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Appian currently has a consensus rating of “Hold” and a consensus target price of $43.33.
Appian Company Profile
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.
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