D. E. Shaw & Co. Inc. Has $21.72 Million Holdings in Appian Co. (NASDAQ:APPN)

D. E. Shaw & Co. Inc. boosted its stake in Appian Co. (NASDAQ:APPN - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 658,654 shares of the company's stock after purchasing an additional 106,023 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.77% of Appian worth $21,722,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in APPN. Canada Pension Plan Investment Board lifted its stake 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 buying an additional 500 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Appian by 1,244.8% in the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock worth $125,000 after acquiring an additional 3,498 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Appian in the 4th quarter worth approximately $181,000. Entropy Technologies LP purchased a new stake in shares of Appian in the 4th quarter worth approximately $208,000. Finally, Magnetar Financial LLC purchased a new stake in Appian during the fourth quarter valued at approximately $249,000. Institutional investors own 52.70% of the company's stock.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $29.52, for a total value of $1,711,422.00. Following the completion of the sale, the insider now directly owns 10,121,563 shares of the company's stock, valued at $298,788,539.76. This represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Albert G.W. Biddle III sold 990 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following 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. Over the last quarter, insiders have sold 380,560 shares of company stock worth $11,124,633. Insiders own 43.00% of the company's stock.

Appian Price Performance

Shares of NASDAQ:APPN traded up $0.16 during midday trading on Thursday, reaching $33.13. The company had a trading volume of 866,736 shares, compared to its average volume of 555,967. The stock's fifty day moving average price is $29.46 and its 200-day moving average price is $33.34. The stock has a market capitalization of $2.45 billion, a P/E ratio of -26.29 and a beta of 1.83. Appian Co. has a one year low of $24.00 and a one year high of $43.33.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on APPN. DA Davidson increased 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 reduced 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. Morgan Stanley upped their target price on shares of Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Barclays increased their price objective on shares of Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. Finally, Citigroup upped their target price on shares of Appian from $40.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $36.29.

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.