Albert G.W. Biddle III Sells 990 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) Director Albert G.W. Biddle III sold 990 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the transaction, the director now owns 29,348 shares in the company, valued at approximately $974,647.08. This trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Appian Stock Performance

Shares of Appian stock opened at $33.37 on Wednesday. Appian Co. has a 52-week low of $26.28 and a 52-week high of $43.33. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -26.48 and a beta of 1.64. The company’s 50 day moving average price is $33.96 and its 200-day moving average price is $34.26.

Appian (NASDAQ:APPN) last issued its earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. During the same quarter in the prior year, the business posted $0.06 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, equities research analysts forecast that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APPN. Abdiel Capital Advisors LP grew its holdings in shares of Appian by 72.6% in the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after purchasing an additional 4,278,969 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Appian in the fourth quarter worth approximately $4,918,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Appian by 184.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company’s stock worth $6,637,000 after purchasing an additional 130,606 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Appian by 418.8% in the fourth quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company’s stock worth $5,303,000 after acquiring an additional 129,800 shares during the period. Finally, Voloridge Investment Management LLC lifted its stake in Appian by 222.6% in the fourth quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company’s stock worth $6,034,000 after acquiring an additional 126,256 shares during the period. Institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on APPN. Barclays upped their price objective on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. KeyCorp reiterated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Finally, Scotiabank initiated coverage on shares of Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.17.

Appian Company 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.