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

A number of other institutional investors have also recently modified their holdings of APPN. Russell Investments Group Ltd. raised its position in shares of Appian by 1,244.8% in the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock worth $125,000 after purchasing an additional 3,498 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Appian by 418.8% during the 4th quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company's stock valued at $5,303,000 after purchasing an additional 129,800 shares in the last quarter. GAMMA Investing LLC increased its stake in Appian by 2,716.2% during the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock valued at $1,800,000 after purchasing an additional 6,030 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Appian in the first quarter worth approximately $373,000. Finally, Raymond James Financial Inc. purchased a new position in Appian in the 4th quarter worth approximately $1,688,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APPN. DA Davidson initiated coverage on Appian in a research note on Friday, August 8th. They set a "neutral" rating and a $30.00 target price on the stock. Zacks Research raised Appian to a "strong-buy" rating in a report on Monday, August 11th. Barclays increased their price objective on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. Scotiabank decreased their target price on Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. Finally, Morgan Stanley upped their target price on shares of Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $33.40.

Appian Price Performance

Shares of NASDAQ:APPN traded down $0.74 during trading on Wednesday, hitting $28.99. The company's stock had a trading volume of 662,058 shares, compared to its average volume of 671,346. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -126.04 and a beta of 1.75. The company has a 50-day moving average of $29.35 and a 200-day moving average of $30.36. Appian Corporation has a 12 month low of $24.00 and a 12 month high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The business had revenue of $170.64 million for the quarter, compared to analyst estimates of $160.01 million. The company's revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.26) earnings per share. 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, research analysts anticipate that Appian Corporation will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was 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 owned 8,430,391 shares in the company, valued at $268,339,345.53. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 1,462,510 shares of company stock worth $46,548,837 in the last quarter. 44.00% of the stock is currently owned by insiders.

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.