Appian Co. (NASDAQ:APPN) Shares Bought by Crestline Management LP

Crestline Management LP grew its holdings in Appian Co. (NASDAQ:APPN - Free Report) by 78.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,183 shares of the company's stock after acquiring an additional 28,137 shares during the period. Crestline Management LP owned about 0.08% of Appian worth $2,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its holdings in shares of Appian by 27.8% during the 4th 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 during the last quarter. 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. KLP Kapitalforvaltning AS purchased a new position in Appian during the 4th quarter valued at approximately $181,000. Entropy Technologies LP bought a new stake in Appian in the 4th quarter worth approximately $208,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Appian during the 4th quarter worth approximately $249,000. Institutional investors own 52.70% of the company's stock.

Appian Price Performance

NASDAQ APPN traded down $0.34 during trading on Friday, hitting $31.69. The company's stock had a trading volume of 794,974 shares, compared to its average volume of 553,858. The company has a market cap of $2.35 billion, a PE ratio of -25.15 and a beta of 1.83. Appian Co. has a fifty-two week low of $24.00 and a fifty-two week high of $43.33. The business's 50 day simple moving average is $29.40 and its 200-day simple moving average is $33.34.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) earnings per share. Analysts expect that Appian Co. will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research report on Friday. DA Davidson upped their target price on shares of Appian from $28.00 to $35.00 and gave the company a "neutral" rating in a research report on Friday. Citigroup dropped their price target on Appian from $53.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley boosted their price objective on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Scotiabank lowered their price objective on Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $36.14.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Albert G.W. Biddle III sold 990 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were 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 directly 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. In the last quarter, insiders have sold 240,510 shares of company stock worth $6,648,635. 43.00% of the stock is owned by company insiders.

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.