Fox Run Management L.L.C. Invests $660,000 in Appian Corporation $APPN

Key Points

• Fox Run Management L.L.C. has acquired 22,916 shares of Appian Corporation, amounting to roughly $660,000, indicating growing institutional interest in the company.
• Appian reported a loss per share of $0.14 for the latest quarter, slightly missing analysts' expectations, but saw a 16.5% increase in year-over-year revenue.
• Appian's stock has a market capitalization of $2.19 billion and displays volatility with a beta of 1.75, while its current trading price is around $29.63.

Fox Run Management L.L.C. bought a new position in shares of Appian Corporation (NASDAQ:APPN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,916 shares of the company's stock, valued at approximately $660,000.

A number of other large investors have also recently made changes to their positions in the stock. Lead Edge Capital Management LLC increased its stake 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 worth $50,396,000 after buying an additional 83,000 shares during the period. First Trust Advisors LP increased its position in shares of Appian by 7.1% during the fourth quarter. First Trust Advisors LP now owns 1,263,405 shares of the company's stock worth $41,667,000 after acquiring an additional 83,708 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Appian by 19.2% during the fourth 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 in the last quarter. Northern Trust Corp raised its stake in shares of Appian by 3.5% during the fourth 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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 during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup raised their price objective on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Barclays raised their price target on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. DA Davidson began coverage on shares of Appian in a research note on Friday, August 8th. They issued a "neutral" rating and a $30.00 price objective for the company. Scotiabank dropped 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. Finally, Zacks Research raised shares of Appian to a "strong-buy" rating in a research report on Monday, August 11th. One equities 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $33.40.

Appian Stock Up 2.6%

Shares of NASDAQ APPN traded up $0.74 during trading hours on Friday, hitting $29.75. 190,921 shares of the stock were exchanged, compared to its average volume of 667,512. Appian Corporation has a 12 month low of $24.00 and a 12 month high of $43.33. The firm has a fifty day moving average price of $29.27 and a 200-day moving average price of $30.31. The company has a market cap of $2.20 billion, a PE ratio of -129.34 and a beta of 1.75.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $170.64 million during the quarter, compared to analysts' expectations of $160.01 million. The company's revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted ($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 anticipate that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $31.45, for a total value of $328,652.50. Following the completion of the transaction, the insider directly owned 7,736,491 shares of the company's stock, valued at $243,312,641.95. This trade represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 1,462,510 shares of company stock worth $46,548,837 in the last 90 days. 43.00% of the stock is currently owned by 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.