One of Appian’s (APPN) more-than-10% owners, Abdiel Capital Advisors, L.P., recently disclosed a huge purchase of the company’s shares, totaling $18.1 million. Importantly, the recent transaction reflects the second informative buy transaction in a week.
APPN is a software company that provides an automation platform to streamline business processes.
Closer Look at the Insider’s Trades
According to the SEC filing, the insider bought 545,121 shares of the company in multiple transactions on July 10 and July 12. The purchase price ranged from $32.56 to $33.75.
Furthermore, Abdiel Capital Advisors purchased APPN stock for a total value of $18.9 million between July 5 and July 9. With the completion of the latest transaction, the firm now holds 14.09 million shares of the company, worth $474 million.
It should be noted that the insider boasts an impressive track record. As per the data collected by TipRanks, the insider has had a success rate of 64% over the past year, with an average return of 5.1% per transaction.
Bullish Insider Trading Signal
Overall, TipRanks’ Insider Trading Activity Tool shows that insider confidence in Appian stock is currently Positive. Corporate insiders have bought shares of the company worth $37.4 million over the last three months.
Investors could keep close track of these notable insider activities, as they reflect the perceptions of key insiders about the company’s prospects. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is APPN Stock a Good Buy?
Overall, analysts have a Moderate Buy consensus rating on APPN based on five Buys, three Holds, and one Sell assigned in the past three months. Furthermore, analysts’ average price target on Appian stock of $37.50 per share implies 11.47% upside potential. Shares of the company have declined by 11.5% in the past three months.
Interestingly, investors considering APPN stock could follow Barclays (BCS) analyst Raimo Lenschow. He is the best analyst covering the stock (in a one-year timeframe). He boasts an average return of 17.52% per rating and a 71% success rate. Click on the image below to learn more.
