EntryPoint Capital LLC Purchases Shares of 16,736 Appian Corporation $APPN

Key Points

• EntryPoint Capital LLC has purchased 16,736 shares of Appian Corporation, valued at approximately $482,000, marking a significant investment in the company during the first quarter.
• Several institutional investors have also increased their holdings in Appian, with total institutional ownership currently at 52.70% of the company's stock.
• Appian's latest earnings report showed a revenue increase of 16.5% year-over-year, despite a slight earnings per share miss, alongside projected EPS guidance for FY 2025.

EntryPoint Capital LLC purchased a new stake in Appian Corporation (NASDAQ:APPN - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 16,736 shares of the company's stock, valued at approximately $482,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Lead Edge Capital Management LLC increased its holdings in Appian by 5.7% in the 4th quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company's stock valued at $50,396,000 after acquiring an additional 83,000 shares during the last quarter. First Trust Advisors LP increased its holdings in Appian by 7.1% in the 4th quarter. First Trust Advisors LP now owns 1,263,405 shares of the company's stock valued at $41,667,000 after acquiring an additional 83,708 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in Appian by 19.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 658,654 shares of the company's stock valued at $21,722,000 after acquiring an additional 106,023 shares during the last quarter. Northern Trust Corp increased its holdings in Appian by 3.5% in the 4th quarter. Northern Trust Corp now owns 363,921 shares of the company's stock valued at $12,002,000 after acquiring an additional 12,337 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Appian by 26.7% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 254,912 shares of the company's stock worth $7,344,000 after buying an additional 53,667 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. DA Davidson assumed coverage on shares of Appian in a report on Friday, August 8th. They issued a "neutral" rating and a $30.00 target price on the stock. Scotiabank reduced their target price on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Zacks Research upgraded shares of Appian to a "strong-buy" rating in a report on Monday, August 11th. Citigroup boosted their target price on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Morgan Stanley boosted their target price on shares of Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. One 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $33.40.

Appian Trading Down 2.5%

Shares of NASDAQ:APPN opened at $28.99 on Thursday. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -126.04 and a beta of 1.75. Appian Corporation has a 12 month low of $24.00 and a 12 month high of $43.33. The firm's 50-day moving average is $29.31 and its 200 day moving average is $30.35.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $170.64 million for the quarter, compared to the consensus estimate of $160.01 million. The company's revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.26) EPS. 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 analysts forecast that Appian Corporation will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $31.83, for a total value of $9,549,000.00. Following the completion of the sale, the insider directly owned 8,430,391 shares of the company's stock, valued at $268,339,345.53. The trade was a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 1,462,510 shares of company stock worth $46,548,837. Corporate insiders own 43.00% of the company's stock.

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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