Harber Asset Management LLC Has $9.80 Million Holdings in Appian Corporation $APPN

Key Points

• Harber Asset Management LLC increased its stake in Appian Corporation by 46.2%, owning 340,297 shares, which represents about 3.5% of its investment portfolio.
• A significant number of hedge funds, including Point72 Hong Kong Ltd and US Bancorp DE, have made recent investments or increased their positions in Appian.
• Appian reported a 16.5% year-over-year increase in revenue, although they posted a loss of ($0.14) EPS, slightly missing analyst expectations.

Harber Asset Management LLC grew its stake in shares of Appian Corporation (NASDAQ:APPN - Free Report) by 46.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 340,297 shares of the company's stock after buying an additional 107,602 shares during the quarter. Appian makes up 3.5% of Harber Asset Management LLC's holdings, making the stock its 14th biggest holding. Harber Asset Management LLC owned approximately 0.46% of Appian worth $9,804,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in shares of Appian in the fourth quarter worth $35,000. Concord Wealth Partners grew its stake in shares of Appian by 21.7% in the first quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock worth $74,000 after purchasing an additional 461 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Appian by 2,052.0% in the first quarter. Headlands Technologies LLC now owns 4,218 shares of the company's stock worth $122,000 after purchasing an additional 4,022 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Appian by 2,716.2% in the first quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock worth $1,800,000 after purchasing an additional 6,030 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of Appian by 215.4% in the first quarter. US Bancorp DE now owns 6,506 shares of the company's stock worth $187,000 after purchasing an additional 4,443 shares during the last quarter. Institutional investors own 52.70% of the company's stock.

Appian Price Performance

Shares of APPN stock traded up $0.09 on Wednesday, reaching $30.77. 1,104,395 shares of the company were exchanged, compared to its average volume of 682,092. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -133.78 and a beta of 1.71. The company has a 50-day moving average of $29.37 and a 200-day moving average of $30.08. Appian Corporation has a one year low of $24.00 and a one year high of $43.33.

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

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $31.45, for a total value of $328,652.50. Following the sale, the insider owned 7,736,491 shares in the company, valued at $243,312,641.95. This represents a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 568,285 shares of company stock valued at $18,242,941. Corporate insiders own 43.00% of the company's stock.

Wall Street Analyst Weigh In

APPN has been the topic of several analyst reports. DA Davidson initiated coverage on shares of Appian in a research note on Friday, August 8th. They issued a "neutral" rating and a $30.00 price objective on the stock. Barclays boosted their price objective on shares of Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. Citigroup boosted their price objective on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Zacks Research raised shares of Appian to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Morgan Stanley upped their price target on shares of Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned 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.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $33.40.

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.