Appian (NASDAQ:APPN) Trading Down 6.7% - Should You Sell?

Appian Corporation (NASDAQ:APPN - Get Free Report)'s stock price was down 6.7% on Friday . The company traded as low as $28.09 and last traded at $28.10. Approximately 412,307 shares were traded during trading, a decline of 26% from the average daily volume of 557,499 shares. The stock had previously closed at $30.12.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. DA Davidson upgraded Appian to a "hold" rating in a report on Monday, June 9th. Barclays raised their target price on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a report on Friday, May 9th. Scotiabank cut their price target on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Finally, Citigroup increased their price target on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Appian has a consensus rating of "Hold" and a consensus price target of $36.29.

Appian Trading Down 0.4%

The company has a market cap of $2.09 billion, a PE ratio of -33.84 and a beta of 1.76. The company has a fifty day simple moving average of $30.60 and a two-hundred day simple moving average of $32.00.

Appian (NASDAQ:APPN - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $166.43 million during the quarter, compared to analyst estimates of $163.27 million. During the same period last year, the business earned ($0.24) EPS. The firm's revenue was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Appian Corporation will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 2,258,145 shares of company stock worth $71,160,372. Corporate insiders own 44.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Handelsbanken Fonder AB boosted its position in shares of Appian by 14.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock valued at $284,000 after purchasing an additional 1,100 shares during the period. Oppenheimer & Co. Inc. increased its position in Appian by 5.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock worth $270,000 after buying an additional 400 shares during the period. Versor Investments LP purchased a new stake in Appian in the fourth quarter valued at approximately $574,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Appian by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 348,932 shares of the company's stock valued at $11,508,000 after acquiring an additional 14,085 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Appian in the fourth quarter valued at approximately $1,688,000. Institutional investors and hedge funds own 52.70% of the company's stock.

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.