AQR Capital Management LLC Increases Stock Position in Appian Corporation $APPN

Key Points

• AQR Capital Management LLC increased its stake in Appian Corporation by 368.8% in the first quarter, now owning approximately 199,869 shares valued at $5.76 million.
• Appian's stock performance shows a 52-week price range between $24.00 and $43.33, currently trading at $30.78.
• The company reported a loss of $0.14 EPS for the last quarter, missing estimates, but its revenue grew 16.5% year-over-year to $170.64 million.

AQR Capital Management LLC boosted its stake in Appian Corporation (NASDAQ:APPN - Free Report) by 368.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,869 shares of the company's stock after purchasing an additional 157,233 shares during the quarter. AQR Capital Management LLC owned about 0.27% of Appian worth $5,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northern Trust Corp raised its stake in Appian by 3.5% in the fourth quarter. Northern Trust Corp now owns 363,921 shares of the company's stock valued at $12,002,000 after purchasing an additional 12,337 shares in the last quarter. Harber Asset Management LLC raised its stake in Appian by 46.2% in the first quarter. Harber Asset Management LLC now owns 340,297 shares of the company's stock valued at $9,804,000 after purchasing an additional 107,602 shares in the last quarter. Trexquant Investment LP raised its stake in Appian by 87.5% in the first quarter. Trexquant Investment LP now owns 311,753 shares of the company's stock valued at $8,982,000 after purchasing an additional 145,450 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. Finally, Millennium Management LLC raised its stake in Appian by 28.5% in the fourth quarter. Millennium Management LLC now owns 254,706 shares of the company's stock valued at $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 Appian stock opened at $30.78 on Friday. Appian Corporation has a 52-week low of $24.00 and a 52-week high of $43.33. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -133.82 and a beta of 1.71. The company's 50 day moving average price is $29.62 and its 200-day moving average price is $29.97.

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 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 last year, the company earned ($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 research analysts forecast that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on APPN shares. Zacks Research cut shares of Appian from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. DA Davidson started coverage on shares of Appian in a research report on Friday, August 8th. They set a "neutral" rating and a $30.00 price target on the stock. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $33.40.

About Appian

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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