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

Appian Co. (NASDAQ:APPN) Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following the transaction, the director now directly owns 29,348 shares of the company’s stock, valued at $974,647.08. This represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Appian Stock Performance

NASDAQ APPN opened at $33.37 on Wednesday. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The stock has a 50-day moving average of $33.96 and a 200 day moving average of $34.26. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -26.48 and a beta of 1.64.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) 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 business had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. Appian’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts predict that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. KeyCorp restated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Barclays raised their price target on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Finally, Scotiabank assumed coverage on Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.17.

Institutional Investors Weigh In On Appian

Several large investors have recently bought and sold shares of APPN. Abdiel Capital Advisors LP grew its stake in shares of Appian by 72.6% during the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock valued at $347,179,000 after purchasing an additional 4,278,969 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Appian during the 4th quarter valued at about $4,918,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Appian by 184.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company’s stock valued at $6,637,000 after purchasing an additional 130,606 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Appian by 418.8% during the 4th quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company’s stock valued at $5,303,000 after purchasing an additional 129,800 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in shares of Appian by 222.6% during the 4th quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company’s stock valued at $6,034,000 after purchasing an additional 126,256 shares during the period. 52.70% of the stock is currently owned by institutional investors.

About Appian

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.