Russell Investments Group Ltd. Increases Holdings in Appian Corporation $APPN

Key Points

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Russell Investments Group Ltd. grew its holdings in Appian Corporation (NASDAQ:APPN - Free Report) by 2,173.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,899 shares of the company's stock after acquiring an additional 82,120 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of Appian worth $2,476,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Nuveen LLC bought a new stake in shares of Appian in the first quarter valued at about $3,007,000. Invesco Ltd. raised its stake 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 purchasing an additional 5,129 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake 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 purchasing an additional 53,667 shares in the last quarter. Swiss National Bank raised its stake in Appian by 2.3% in the first quarter. Swiss National Bank now owns 62,100 shares of the company's stock valued at $1,789,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in Appian by 2,052.0% in the first 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 in the last quarter. Institutional investors own 52.70% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of the 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 of the company's stock, valued at approximately $243,312,641.95. This represents a 0.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders 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 research analysts have commented on the company. Citigroup boosted 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. Zacks Research raised Appian to a "strong-buy" rating in a research note on Monday, August 11th. 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. DA Davidson initiated coverage on Appian in a report on Friday, August 8th. They issued a "neutral" rating and a $30.00 target price on the stock. Finally, Barclays upped their target price on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a report on Friday, May 9th. One research 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 company's stock. According to data from MarketBeat.com, Appian currently has a consensus rating of "Hold" and a consensus price target of $33.40.

Appian Stock Performance

Shares of Appian stock traded down $0.05 on Friday, reaching $30.67. 306,325 shares of the company's stock were exchanged, compared to its average volume of 675,233. The company has a market capitalization of $2.27 billion, a P/E ratio of -133.25 and a beta of 1.75. Appian Corporation has a 52 week low of $24.00 and a 52 week high of $43.33. The firm's 50-day moving average is $29.23 and its two-hundred day moving average is $30.15.

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 company had revenue of $170.64 million during the quarter, compared to the consensus estimate of $160.01 million. During the same quarter in the prior year, the company posted ($0.26) EPS. The firm'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, 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.