Appian Co. (NASDAQ:APPN) Shares Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC lifted its holdings in shares of Appian Co. (NASDAQ:APPN) by 9.7% during the 3rd quarter, Holdings Channel reports. The firm owned 26,314 shares of the company’s stock after buying an additional 2,337 shares during the period. Chicago Partners Investment Group LLC’s holdings in Appian were worth $898,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in APPN. Allspring Global Investments Holdings LLC acquired a new position in Appian during the 3rd quarter worth $29,000. Neo Ivy Capital Management acquired a new position in shares of Appian during the second quarter worth about $65,000. Canada Pension Plan Investment Board acquired a new position in shares of Appian during the second quarter worth about $96,000. nVerses Capital LLC acquired a new stake in Appian in the second quarter valued at approximately $105,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Appian in the second quarter valued at approximately $121,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp acquired 75,000 shares of the stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $28.15 per share, with a total value of $2,111,250.00. Following the transaction, the insider now owns 8,380,847 shares of the company’s stock, valued at approximately $235,920,843.05. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders acquired a total of 1,044,276 shares of company stock worth $31,165,851 in the last 90 days. 44.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on APPN shares. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. KeyCorp cut Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. DA Davidson reaffirmed a “neutral” rating and set a $33.00 price objective on shares of Appian in a research report on Monday, October 14th. The Goldman Sachs Group cut their target price on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Barclays lowered their price target on Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.20.

Appian Stock Performance

Appian stock opened at $36.63 on Monday. The stock has a 50-day simple moving average of $32.58 and a 200-day simple moving average of $32.03. The company has a market capitalization of $2.65 billion, a P/E ratio of -24.58 and a beta of 1.57. Appian Co. has a fifty-two week low of $26.28 and a fifty-two week high of $42.99.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.05. The business had revenue of $146.50 million during the quarter, compared to the consensus estimate of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.55) earnings per share. As a group, analysts forecast that Appian Co. will post -1.08 earnings per share for the current year.

Appian Profile

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.