BNP Paribas Financial Markets Lowers Holdings in Appian Co. (NASDAQ:APPN)

BNP Paribas Financial Markets lessened its stake in Appian Co. (NASDAQ:APPN - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,926 shares of the company's stock after selling 40,348 shares during the quarter. BNP Paribas Financial Markets owned 0.11% of Appian worth $3,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Oppenheimer & Co. Inc. boosted its position in shares of Appian by 5.1% during 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 boosted its stake in Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after buying an additional 500 shares during the period. Handelsbanken Fonder AB boosted its stake in Appian by 14.7% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after buying an additional 1,100 shares during the period. MetLife Investment Management LLC boosted its stake in Appian by 8.0% during the fourth quarter. MetLife Investment Management LLC now owns 24,325 shares of the company's stock worth $802,000 after buying an additional 1,809 shares during the period. Finally, Barclays PLC boosted its stake in Appian by 4.5% during 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 during the period. Hedge funds and other institutional investors own 52.70% of the company's stock.

Appian Price Performance

APPN opened at $33.13 on Friday. The business's 50-day moving average is $29.51 and its two-hundred day moving average is $33.34. Appian Co. has a 1 year low of $24.00 and a 1 year high of $43.33. The firm has a market capitalization of $2.45 billion, a PE ratio of -26.29 and a beta of 1.83.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.10. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. The company's revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that Appian Co. will post -0.28 EPS for the current year.

Insider Activity at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 140,050 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $31.96, for a total transaction of $4,475,998.00. Following the completion of the transaction, the insider now directly owns 9,615,066 shares of the company's stock, valued at $307,297,509.36. This represents a 1.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Albert G.W. Biddle III sold 990 shares of the company'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 transaction, the director now directly owns 29,348 shares of the company's stock, valued at approximately $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 have sold a total of 380,560 shares of company stock worth $11,124,633 over the last quarter. Insiders own 43.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on APPN shares. Citigroup lifted their price objective on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday. DA Davidson lifted their price objective on shares of Appian from $28.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Scotiabank dropped their price objective on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Morgan Stanley lifted their target price on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Finally, Barclays lifted their target price on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Appian has an average rating of "Hold" and an average target price of $36.29.

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.

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