Insiders sell for a variety of reasons, many of them mundane. However, they only buy for one reason: They believe shares will swing higher in value.
Appian has slid recently on slowing growth, but the company is showing surprisingly strong net revenue retention rates. The stock's YTD slide has taken it to a bargain-basement ~3x FY25 revenue multiple, which gives investors a major layer of safety. In the long run, the company still benefits from companies' desire to automate more and more tasks to save on redundant headcount costs.