Appian Corporation $APPN Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Appian Corporation (NASDAQ: APPN) by 117% in Q1, owning approximately 169,173 shares valued at about $4.87 million.
• Analysts have mixed ratings for Appian, with a consensus rating of "Hold" and a target price of $33.40, while one analyst rated it as a strong buy.
• Appian reported a 16.5% year-over-year revenue growth with quarterly earnings per share of ($0.14), slightly missing expectations, while guidance for FY 2025 is set between $0.280 - $0.360 EPS.

Cubist Systematic Strategies LLC lifted its position in Appian Corporation (NASDAQ:APPN - Free Report) by 117.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,173 shares of the company's stock after purchasing an additional 91,202 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.23% of Appian worth $4,874,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Appian in the 4th quarter valued at about $35,000. Concord Wealth Partners boosted its position in shares of Appian by 21.7% in the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock valued at $74,000 after purchasing an additional 461 shares during the period. Headlands Technologies LLC boosted its position in shares of Appian by 2,052.0% in 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 period. GAMMA Investing LLC boosted its position in shares of Appian by 2,716.2% in the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock valued at $1,800,000 after purchasing an additional 6,030 shares during the period. Finally, US Bancorp DE boosted its position in shares of Appian by 215.4% in the 1st quarter. US Bancorp DE now owns 6,506 shares of the company's stock valued at $187,000 after purchasing an additional 4,443 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APPN. DA Davidson began coverage on Appian in a research report on Friday, August 8th. They issued a "neutral" rating and a $30.00 target price for the company. Morgan Stanley upped their price objective on Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Barclays upped their price objective on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Zacks Research raised Appian to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Citigroup upped their price objective on 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 issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $33.40.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 225,720 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $32.21, for a total transaction of $7,270,441.20. Following the completion of the transaction, the insider directly owned 7,853,441 shares of the company's stock, valued at approximately $252,959,334.61. This represents a 2.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 342,670 shares of company stock worth $10,989,419. Corporate insiders own 44.00% of the company's stock.

Appian Stock Up 0.3%

APPN opened at $30.77 on Thursday. The company has a market cap of $2.28 billion, a PE ratio of -133.78 and a beta of 1.71. The business has a 50 day moving average price of $29.42 and a two-hundred day moving average price of $30.09. Appian Corporation has a 52 week low of $24.00 and a 52 week high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The firm had revenue of $170.64 million during the quarter, compared to analyst estimates of $160.01 million. The company's quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the business 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. As a group, sell-side analysts expect that Appian Corporation will post -0.28 EPS for the current fiscal year.

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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