CANADA LIFE ASSURANCE Co Sells 31,282 Shares of Appian Co. (NASDAQ:APPN)

CANADA LIFE ASSURANCE Co cut its holdings in shares of Appian Co. (NASDAQ:APPN - Free Report) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 311,248 shares of the company's stock after selling 31,282 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.36% of Appian worth $10,258,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in APPN. Oppenheimer & Co. Inc. increased its holdings in Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock valued at $270,000 after acquiring an additional 400 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock valued at $76,000 after purchasing an additional 500 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Appian by 14.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after purchasing an additional 1,100 shares during the last quarter. Barclays PLC lifted its position in shares of Appian by 4.5% in the fourth quarter. Barclays PLC now owns 75,023 shares of the company's stock worth $2,474,000 after buying an additional 3,252 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Appian by 1,244.8% during the fourth 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 last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $27.02, for a total value of $137,883.06. Following the transaction, the insider now directly owns 9,755,116 shares in the company, valued at $263,583,234.32. This represents a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 240,510 shares of company stock worth $6,648,635 over the last quarter. Company insiders own 44.00% of the company's stock.

Appian Price Performance

Shares of Appian stock traded up $0.63 during trading on Friday, hitting $31.32. The stock had a trading volume of 422,644 shares, compared to its average volume of 554,835. The stock has a market cap of $2.32 billion, a PE ratio of -24.86 and a beta of 1.78. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33. The firm's fifty day simple moving average is $29.82 and its 200-day simple moving average is $33.35.

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 the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. Analysts expect that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

APPN has been the topic of a number of research reports. KeyCorp reaffirmed a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. Barclays decreased their price target on shares of Appian from $37.00 to $28.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. Citigroup dropped 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, Scotiabank lowered their price target on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $34.14.

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.