AlphaQuest LLC Cuts Stake in Appian Corporation $APPN

Key Points

• AlphaQuest LLC has reduced its stake in Appian Corporation (NASDAQ:APPN) by 60.5%, now holding 6,997 shares valued at approximately $202,000.
• Appian Corporation reported a loss of $0.14 EPS for the last quarter, slightly below the consensus estimate, although revenue increased by 16.5% year-over-year.
• Major shareholder Abdiel Capital Advisors sold 300,000 shares of Appian stock for roughly $9.55 million, decreasing their position by 3.44%.

AlphaQuest LLC lowered its stake in shares of Appian Corporation (NASDAQ:APPN - Free Report) by 60.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,997 shares of the company's stock after selling 10,698 shares during the period. AlphaQuest LLC's holdings in Appian were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new stake in Appian during the 4th quarter valued at about $35,000. Concord Wealth Partners grew its stake in 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 acquiring an additional 461 shares in the last quarter. Headlands Technologies LLC grew 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 acquiring an additional 4,022 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 acquiring an additional 6,030 shares in the last quarter. Finally, US Bancorp DE grew its stake in 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 acquiring an additional 4,443 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Appian Price Performance

NASDAQ:APPN opened at $30.78 on Friday. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -133.82 and a beta of 1.75. The company's 50-day moving average is $29.28 and its two-hundred day moving average is $30.11. 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 issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $170.64 million for the quarter, compared to analysts' expectations of $160.01 million. During the same quarter in the prior year, the company posted ($0.26) EPS. The business's revenue was up 16.5% on a year-over-year basis. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. As a group, equities analysts anticipate that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

Insider Activity at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $31.83, for a total value 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. This represents a 3.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 1,031,337 shares of company stock valued at $32,963,143. Corporate insiders own 43.00% of the company's stock.

Analyst Ratings Changes

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

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.

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