Algert Global LLC Raises Stake in Appian Corporation $APPN

Key Points

• Algert Global LLC increased its stake in Appian Corporation by 21.5%, now owning 78,234 shares valued at approximately $2.25 million.
• Several institutional investors have made significant changes in their holdings of Appian, with ownership by institutions now at 52.7%.
• Appian's stock recently reported a 16.5% revenue increase year-over-year, although it missed expected earnings per share by $0.01.

Algert Global LLC raised its stake in Appian Corporation (NASDAQ:APPN - Free Report) by 21.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,234 shares of the company's stock after acquiring an additional 13,840 shares during the quarter. Algert Global LLC owned approximately 0.11% of Appian worth $2,254,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new position in Appian in the first quarter valued at approximately $660,000. Russell Investments Group Ltd. lifted its holdings in Appian by 2,173.1% in the first quarter. Russell Investments Group Ltd. now owns 85,899 shares of the company's stock valued at $2,476,000 after acquiring an additional 82,120 shares during the period. Nuveen LLC acquired a new position in Appian in the first quarter valued at approximately $3,007,000. Invesco Ltd. lifted its holdings in Appian by 27.2% in the first quarter. Invesco Ltd. now owns 24,014 shares of the company's stock valued at $692,000 after acquiring an additional 5,129 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Appian by 26.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 254,912 shares of the company's stock valued at $7,344,000 after acquiring an additional 53,667 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

Appian Stock Performance

Shares of APPN traded up $0.88 during trading hours on Wednesday, hitting $29.50. 1,431,458 shares of the stock were exchanged, compared to its average volume of 1,173,384. Appian Corporation has a 12-month low of $24.00 and a 12-month high of $43.33. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -128.26 and a beta of 1.75. The stock's 50-day moving average price is $29.22 and its two-hundred day moving average price is $30.17.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research raised Appian to a "strong-buy" rating in a report on Monday, August 11th. Morgan Stanley upped their target price on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. DA Davidson started coverage on Appian in a research note on Friday, August 8th. They set a "neutral" rating and a $30.00 target price for the company. Citigroup upped their target price on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Barclays upped their target price on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $33.40.

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $31.45, for a total value of $328,652.50. Following the completion of the sale, the insider directly owned 7,736,491 shares in the company, valued at $243,312,641.95. This represents a 0.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,384,674 shares of company stock worth $44,081,592 in the last three months. 43.00% of the stock is currently owned by 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.