Appian Corporation $APPN Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Appian stake by 42.5% in the second quarter, selling 55,700 shares and retaining 75,279 shares worth approximately $1.72 million.
• Appian CEO Matthew Calkins sold 50,000 shares for about $1.24 million under a pre-arranged Rule 10b5-1 trading plan. Institutional investors and corporate insiders own 52.7% and 42.81% of the company, respectively.
• Appian reported quarterly revenue of $203.26 million, up 19.1% year over year and above estimates, with adjusted earnings of $0.13 per share. Analysts maintain a consensus “Hold” rating and an average price target of $31.

Engineers Gate Manager LP lowered its holdings in Appian Corporation (NASDAQ:APPN - Free Report) by 42.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,279 shares of the company's stock after selling 55,700 shares during the period. Engineers Gate Manager LP owned 0.11% of Appian worth $1,724,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its position in shares of Appian by 35.5% in the second quarter. IFP Advisors Inc now owns 1,108 shares of the company's stock worth $25,000 after acquiring an additional 290 shares during the last quarter. Allworth Financial LP grew its stake in shares of Appian by 15.0% during the 2nd quarter. Allworth Financial LP now owns 2,678 shares of the company's stock valued at $61,000 after buying an additional 350 shares during the period. ProShare Advisors LLC grew its stake in shares of Appian by 7.8% during the 4th quarter. ProShare Advisors LLC now owns 7,481 shares of the company's stock valued at $265,000 after buying an additional 543 shares during the period. KBC Group NV purchased a new stake in shares of Appian during the 1st quarter valued at $31,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Appian during the 2nd quarter worth $63,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Matthew Calkins sold 50,000 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $24.72, for a total transaction of $1,236,000.00. Following the completion of the sale, the chief executive officer directly owned 1,719,144 shares in the company, valued at $42,497,239.68. This trade represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 42.81% of the stock is owned by corporate insiders.

Appian Stock Down 1.1%

APPN opened at $37.50 on Thursday. The firm has a market capitalization of $2.69 billion, a P/E ratio of -249.98 and a beta of 0.94. The firm's 50 day moving average is $32.83 and its 200-day moving average is $26.57. Appian Corporation has a 52-week low of $18.63 and a 52-week high of $46.06.

Appian (NASDAQ:APPN - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter. The business had revenue of $203.26 million during the quarter, compared to the consensus estimate of $193.38 million. Appian had a negative net margin of 1.34% and a negative return on equity of 35.20%. Appian's revenue for the quarter was up 19.1% compared to the same quarter last year. Appian has set its FY 2026 guidance at 1.040-1.120 EPS and its Q3 2026 guidance at 0.310-0.350 EPS. Equities analysts expect that Appian Corporation will post 0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on APPN shares. Weiss Ratings raised Appian from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 3rd. Wall Street Zen upgraded Appian from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 12th. Morgan Stanley lifted their price objective on Appian from $25.00 to $32.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. DA Davidson boosted their target price on Appian from $34.00 to $42.00 and gave the stock a "neutral" rating in a report on Friday, August 14th. Finally, Citigroup increased their target price on shares of Appian from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Appian currently has a consensus rating of "Hold" and an average target price of $31.00.

Appian Company Profile

Appian Corporation develops enterprise software designed to help organizations build applications and automate business processes. Its low-code platform enables users to design, deploy and manage applications with limited traditional programming, supporting workflow automation, process orchestration, case management and business process improvement.

The Appian Platform combines application development tools with data management, artificial intelligence, robotic process automation and process-mining capabilities.

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