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

Raymond James Financial Inc. acquired a new position in shares of Appian Co. (NASDAQ:APPN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,171 shares of the company's stock, valued at approximately $1,688,000. Raymond James Financial Inc. owned approximately 0.06% of Appian as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Appian in the fourth quarter worth about $4,918,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Appian by 184.9% in the 4th 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in Appian by 418.8% in the 4th quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company's stock worth $5,303,000 after purchasing an additional 129,800 shares in the last quarter. Norges Bank bought a new position in Appian in the 4th quarter valued at $4,046,000. Finally, Barclays PLC grew its position in shares of Appian by 285.9% during the 3rd quarter. Barclays PLC now owns 71,771 shares of the company's stock valued at $2,451,000 after purchasing an additional 53,172 shares in the last quarter. Institutional investors own 52.70% of the company's stock.

Appian Trading Down 0.8 %

Shares of APPN stock traded down $0.25 during mid-day trading on Wednesday, reaching $30.42. The stock had a trading volume of 668,963 shares, compared to its average volume of 546,218. The firm has a market capitalization of $2.25 billion, a PE ratio of -24.14 and a beta of 1.83. The stock's 50-day moving average price is $29.39 and its two-hundred day moving average price is $33.31. Appian Co. has a 52-week low of $24.00 and a 52-week high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The business had revenue of $166.70 million for 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%. Appian's revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 EPS. On average, equities research analysts forecast that Appian Co. will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the stock in a transaction on Friday, April 4th. The stock was 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 in the company, valued at approximately $263,367,288.60. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $32,877.90. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,510 shares of company stock worth $6,648,635 over the last three months. Company insiders own 44.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.