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Appian Co. (NASDAQ:APPN – Get Rating) shares rose 6.5% during mid-day trading on Friday after an insider bought additional shares in the company. The company traded as high as $39.00 and last traded at $39.00. Approximately 10,161 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 487,918 shares. The stock had previously closed at $36.62.Specifically, major shareholder Abdiel Capital Management, Llc purchased 60,900 shares of the stock in a transaction on Tuesday, November 1st. The stock was bought at an average price of $49.85 per share, with a total value of $3,035,865.00. Following the transaction, the insider now owns 8,389,018 shares in the company, valued at approximately $418,192,547.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Abdiel Capital Management, Llc purchased 60,900 shares of the stock in a transaction on Tuesday, November 1st. The stock was bought at an average price of $49.85 per share, with a total value of $3,035,865.00. Following the transaction, the insider now owns 8,389,018 shares in the company, valued at approximately $418,192,547.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Charles Kramer sold 3,145 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $36.85, for a total value of $115,893.25. Following the completion of the transaction, the insider now directly owns 161,382 shares of the company’s stock, valued at approximately $5,946,926.70. The disclosure for this sale can be found here. In the last 90 days, insiders bought 627,731 shares of company stock valued at $23,493,685 and sold 7,786 shares valued at $275,579. 43.50% of the stock is currently owned by insiders.
Analysts Set New Price Targets
APPN has been the subject of a number of analyst reports. Credit Suisse Group initiated coverage on Appian in a research report on Friday, September 23rd. They issued a “neutral” rating and a $45.00 price target for the company. KeyCorp dropped their price target on Appian from $55.00 to $46.00 and set an “overweight” rating for the company in a research report on Wednesday. Truist Financial decreased their price objective on Appian from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday. Barclays decreased their price objective on Appian from $30.00 to $25.00 and set an “underweight” rating on the stock in a report on Tuesday, January 10th. Finally, Sumitomo Mitsui Financial Group cut Appian from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $37.00 to $23.00 in a report on Monday, January 9th. Two equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.33.
Appian Price Performance
The business has a 50 day simple moving average of $35.74 and a 200 day simple moving average of $42.90. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -19.27 and a beta of 1.58.
Appian (NASDAQ:APPN – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.27). Appian had a negative return on equity of 53.25% and a negative net margin of 31.83%. The firm had revenue of $117.88 million for the quarter, compared to analyst estimates of $116.11 million. During the same quarter last year, the company earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, equities research analysts predict that Appian Co. will post -1.86 EPS for the current year.
Institutional Trading of Appian
Several hedge funds have recently modified their holdings of the stock. Crossmark Global Holdings Inc. raised its stake in shares of Appian by 10.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 8,341 shares of the company’s stock valued at $272,000 after acquiring an additional 791 shares in the last quarter. Evermay Wealth Management LLC acquired a new stake in shares of Appian in the fourth quarter valued at $47,000. Bank of New York Mellon Corp raised its stake in shares of Appian by 7.3% in the third quarter. Bank of New York Mellon Corp now owns 173,210 shares of the company’s stock valued at $7,072,000 after acquiring an additional 11,839 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Appian in the third quarter valued at $4,190,000. Finally, Capital Impact Advisors LLC raised its stake in shares of Appian by 21.7% in the third quarter. Capital Impact Advisors LLC now owns 4,753 shares of the company’s stock valued at $182,000 after acquiring an additional 846 shares in the last quarter. 50.89% of the stock is currently owned by institutional investors and hedge funds.
Appian Company Profile
(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.
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