Appian Corporation $APPN Stake Cut by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Appian Corporation by 3.8%, owning 350,025 shares worth $10,084,000 after selling nearly 14,000 shares in the first quarter.
• Appian's most recent earnings report showed a loss of ($0.14) per share, missing estimates, while revenue increased by 16.5% to $170.64 million.
• Recent analyst upgrades include a "strong-buy" rating from Zacks Research, while the average price target for Appian stocks stands at $33.40.

Northern Trust Corp reduced its holdings in Appian Corporation (NASDAQ:APPN - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,025 shares of the company's stock after selling 13,896 shares during the period. Northern Trust Corp owned about 0.47% of Appian worth $10,084,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Appian by 2,716.2% in the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock worth $1,800,000 after acquiring an additional 6,030 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Appian in the 1st quarter worth about $373,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Appian by 9.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,836 shares of the company's stock worth $2,897,000 after acquiring an additional 7,594 shares in the last quarter. Deutsche Bank AG lifted its stake in Appian by 144.6% in the 1st quarter. Deutsche Bank AG now owns 84,975 shares of the company's stock worth $2,448,000 after acquiring an additional 50,240 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Appian by 28.5% during the 4th quarter. Millennium Management LLC now owns 254,706 shares of the company's stock worth $8,400,000 after purchasing an additional 56,420 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Stock Performance

Shares of APPN stock opened at $30.57 on Friday. The stock's 50 day simple moving average is $29.48 and its 200 day simple moving average is $30.06. Appian Corporation has a twelve month low of $24.00 and a twelve month high of $43.33. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -132.91 and a beta of 1.71.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) earnings per share 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 analyst estimates of $160.01 million. During the same quarter last year, the firm earned ($0.26) earnings per share. The business'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 forecast that Appian Corporation will post -0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

APPN has been the subject of a number of recent research reports. Zacks Research raised Appian to a "strong-buy" rating in a research note on Monday, August 11th. DA Davidson initiated coverage on Appian in a research note on Friday, August 8th. They set a "neutral" rating and a $30.00 price target for the company. Morgan Stanley raised their price target on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Citigroup raised their price target on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Barclays raised their price target on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research note 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $33.40.

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 56,500 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $32.05, for a total value of $1,810,825.00. Following the transaction, the insider directly owned 7,796,941 shares of the company's stock, valued at approximately $249,891,959.05. This trade represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 116,950 shares of company stock valued at $3,718,978. 43.00% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding APPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Appian Corporation (NASDAQ:APPN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.