Hawk Ridge Capital Management LP Takes $7.56 Million Position in Appian Corporation $APPN

Key Points

• Hawk Ridge Capital Management LP has acquired 262,300 shares of Appian Corporation, valued at approximately $7.56 million, which represents 0.35% ownership of the company as of their latest SEC filing.
• Appian reported a revenue of $170.64 million for its last quarter, exceeding analyst estimates of $160.01 million, although it missed EPS expectations by a small margin.
• Insider sales totalled 342,670 shares valued at nearly $11 million in the last 90 days, indicating increased activity among company insiders.

Hawk Ridge Capital Management LP purchased a new stake in shares of Appian Corporation (NASDAQ:APPN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 262,300 shares of the company's stock, valued at approximately $7,557,000. Hawk Ridge Capital Management LP owned about 0.35% of Appian at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new position in shares of Appian during the 4th quarter valued at $35,000. Concord Wealth Partners lifted its position in shares of Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock valued at $74,000 after buying an additional 461 shares during the last quarter. Headlands Technologies LLC lifted its position in shares of Appian by 2,052.0% during the 1st quarter. Headlands Technologies LLC now owns 4,218 shares of the company's stock valued at $122,000 after buying an additional 4,022 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Appian by 2,716.2% during the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock valued at $1,800,000 after buying an additional 6,030 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Appian by 215.4% during the 1st quarter. US Bancorp DE now owns 6,506 shares of the company's stock valued at $187,000 after buying an additional 4,443 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Appian Price Performance

NASDAQ APPN traded up $1.48 during trading on Monday, reaching $32.05. The company's stock had a trading volume of 1,240,831 shares, compared to its average volume of 688,737. The stock has a market capitalization of $2.37 billion, a PE ratio of -139.34 and a beta of 1.71. The firm has a fifty day moving average of $29.48 and a 200 day moving average of $29.98. Appian Corporation has a one year low of $24.00 and a one year high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The business had revenue of $170.64 million during the quarter, compared to analyst estimates of $160.01 million. The firm's revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.26) EPS. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. Research analysts expect that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

APPN has been the topic of a number of recent research reports. DA Davidson initiated coverage on Appian in a report on Friday, August 8th. They set a "neutral" rating and a $30.00 price objective on the stock. Citigroup increased their price objective on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Zacks Research raised Appian to a "strong-buy" rating in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Appian presently has an average rating of "Hold" and an average price target of $33.40.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 50,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.59, for a total transaction of $1,579,500.00. Following the transaction, the insider directly owned 7,746,941 shares in the company, valued at approximately $244,725,866.19. This represents a 0.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 44.00% of the stock is owned by corporate insiders.

About Appian

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.