Algert Global LLC Has $2.25 Million Position 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 boosted its position in Appian Corporation (NASDAQ:APPN - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,234 shares of the company's stock after purchasing an additional 13,840 shares during the quarter. Algert Global LLC owned about 0.11% of Appian worth $2,254,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of APPN. Point72 Hong Kong Ltd acquired a new position in Appian during the 4th quarter valued at about $35,000. 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 worth $76,000 after buying an additional 500 shares during the period. Concord Wealth Partners boosted its holdings in shares of Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock worth $74,000 after buying an additional 461 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock worth $125,000 after buying an additional 3,498 shares during the period. Finally, Headlands Technologies LLC raised its stake in 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 purchasing an additional 4,022 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APPN shares. Barclays boosted their price target on shares of Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a report on Friday, May 9th. Morgan Stanley raised their target price on shares of Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. DA Davidson started coverage on shares of Appian in a research note on Friday, August 8th. They issued a "neutral" rating and a $30.00 target price on the stock. Zacks Research raised shares of Appian to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Citigroup raised their target price on shares of Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $33.40.

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $31.83, for a total transaction of $9,549,000.00. Following the transaction, the insider directly owned 8,430,391 shares in the company, valued at approximately $268,339,345.53. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,389,344 shares of company stock worth $44,228,743 in the last 90 days. 44.00% of the stock is currently owned by insiders.

Appian Stock Performance

APPN stock traded down $0.36 during mid-day trading on Tuesday, hitting $28.75. 232,753 shares of the company were exchanged, compared to its average volume of 665,975. The firm's 50 day simple moving average is $29.26 and its 200 day simple moving average is $30.19. The firm has a market cap of $2.13 billion, a P/E ratio of -124.99 and a beta of 1.75. Appian Corporation has a 1-year low of $24.00 and a 1-year high of $43.33.

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

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.