51,171 Shares in Appian Co. (NASDAQ:APPN) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Appian Co. (NASDAQ:APPN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 51,171 shares of the company's stock, valued at approximately $1,688,000. Raymond James Financial Inc. owned approximately 0.06% of Appian at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of Appian by 1,244.8% in the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after buying an additional 3,498 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Appian in the fourth quarter valued at approximately $181,000. Entropy Technologies LP bought a new stake in shares of Appian during the fourth quarter valued at approximately $208,000. Magnetar Financial LLC acquired a new position in shares of Appian during the fourth quarter worth approximately $249,000. Finally, Summit Global Investments bought a new position in shares of Appian in the 4th quarter worth $256,000. Institutional investors and hedge funds own 52.70% of the company's stock.

Insider Activity

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the sale, the insider now directly owns 9,942,140 shares of the company's stock, valued at $263,367,288.60. This represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction dated 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 of the company's stock, valued at $974,647.08. The trade was a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 240,510 shares of company stock valued at $6,648,635 in the last three months. Company insiders own 44.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley lowered their price objective on shares of Appian from $35.00 to $27.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. DA Davidson lowered their target price on shares of Appian from $40.00 to $28.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Barclays cut their price target on Appian from $37.00 to $28.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. Citigroup lowered their price objective on Appian from $53.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Scotiabank cut their target price on Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $34.14.

Appian Stock Up 0.9 %

APPN stock opened at $31.33 on Friday. The firm has a market cap of $2.32 billion, a PE ratio of -24.87 and a beta of 1.78. The business has a 50 day moving average of $29.54 and a 200-day moving average of $33.32. Appian Co. has a 12-month low of $24.00 and a 12-month high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The business had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. On average, research analysts expect that Appian Co. will post -0.28 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.

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