JPMorgan Chase & Co. Increases Position in Appian Co. (NASDAQ:APPN)

JPMorgan Chase & Co. increased its stake in Appian Co. (NASDAQ:APPN - Free Report) by 418.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 160,793 shares of the company's stock after purchasing an additional 129,800 shares during the period. JPMorgan Chase & Co. owned approximately 0.19% of Appian worth $5,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its position 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 last quarter. Barclays PLC boosted its stake in Appian by 285.9% in the third quarter. Barclays PLC now owns 71,771 shares of the company's stock worth $2,451,000 after buying an additional 53,172 shares in the last quarter. Raymond James Financial Inc. bought a new position in Appian during the fourth quarter valued at approximately $1,688,000. Vanguard Group Inc. raised its stake in shares of Appian by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company's stock worth $165,839,000 after acquiring an additional 23,890 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Appian by 147,358.3% in the 4th quarter. AlphaQuest LLC now owns 17,695 shares of the company's stock worth $584,000 after acquiring an additional 17,683 shares during the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Appian

In other news, Director Albert G.W. Biddle III sold 990 shares of the firm'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 value of $32,877.90. Following the completion of the transaction, the director now owns 29,348 shares in the company, valued at $974,647.08. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $27.02, for a total value of $137,883.06. Following the completion of the sale, the insider now directly owns 9,755,116 shares in the company, valued at approximately $263,583,234.32. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 240,510 shares of company stock valued at $6,648,635. Company insiders own 44.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APPN. Barclays reduced their target price on shares of Appian from $37.00 to $28.00 and set an "underweight" rating on the stock in a report on Monday. Morgan Stanley decreased their price objective on Appian from $35.00 to $27.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. KeyCorp reissued a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. Citigroup reduced their price target on Appian from $53.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, DA Davidson lowered their price objective on Appian from $40.00 to $28.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $34.57.

Appian Stock Performance

Shares of NASDAQ APPN traded up $3.38 during trading hours on Wednesday, hitting $30.12. The company's stock had a trading volume of 274,491 shares, compared to its average volume of 548,271. The business has a 50-day simple moving average of $29.90 and a 200-day simple moving average of $33.39. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -23.90 and a beta of 1.78. 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 posted 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 net margin of 14.95% and a negative return on equity of 532.05%. The business had revenue of $166.70 million for the quarter, compared to analysts' expectations of $164.31 million. During the same period last year, the firm posted $0.06 earnings per share. Appian's quarterly revenue was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that Appian Co. will post -0.28 EPS 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.