Harber Asset Management LLC Sells 172,371 Shares of Appian Corporation $APPN

Key Points

• Harber Asset Management cut its Appian stake by 47.6% in the fourth quarter, selling 172,371 shares and leaving it with 189,453 shares worth about $6.71 million.
• Appian reported better-than-expected quarterly results, posting EPS of $0.27 versus $0.19 expected and revenue of $202.18 million, up 21.5% year over year. The company also issued FY 2026 EPS guidance of 0.94 to 1.05.
• Wall Street sentiment remains cautious: the stock has a consensus “Reduce” rating with an average target price of $26.00. Meanwhile, insider buying continued as CRO Mark Dorsey purchased 5,227 shares.

Harber Asset Management LLC reduced its stake in shares of Appian Corporation (NASDAQ:APPN - Free Report) by 47.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,453 shares of the company's stock after selling 172,371 shares during the period. Appian accounts for approximately 2.8% of Harber Asset Management LLC's portfolio, making the stock its 22nd biggest holding. Harber Asset Management LLC owned 0.26% of Appian worth $6,710,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of APPN. EverSource Wealth Advisors LLC raised its holdings in Appian by 282.5% during the third quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company's stock valued at $25,000 after buying an additional 599 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Appian by 693.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company's stock valued at $30,000 after buying an additional 846 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Appian during the fourth quarter valued at about $34,000. Allworth Financial LP raised its holdings in Appian by 175.2% during the third quarter. Allworth Financial LP now owns 1,131 shares of the company's stock valued at $35,000 after buying an additional 720 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Appian by 115.5% during the third quarter. Jones Financial Companies Lllp now owns 1,653 shares of the company's stock valued at $51,000 after buying an additional 886 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

Appian Stock Up 1.6%

Shares of APPN opened at $24.01 on Friday. Appian Corporation has a 12-month low of $18.63 and a 12-month high of $46.06. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 2,403.40 and a beta of 0.90. The stock's 50-day moving average price is $22.35 and its 200 day moving average price is $27.74.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.08. Appian had a negative return on equity of 26.12% and a net margin of 0.12%.The firm had revenue of $202.18 million for the quarter, compared to analyst estimates of $191.57 million. During the same period in the previous year, the company posted $0.13 earnings per share. The company's quarterly revenue was up 21.5% compared to the same quarter last year. Appian has set its FY 2026 guidance at 0.940-1.050 EPS and its Q2 2026 guidance at -0.020-0.020 EPS. Equities research analysts expect that Appian Corporation will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

APPN has been the topic of several recent research reports. Weiss Ratings restated a "sell (d)" rating on shares of Appian in a report on Wednesday, May 20th. Barclays lifted their price objective on Appian from $21.00 to $23.00 and gave the stock an "underweight" rating in a research note on Friday, May 8th. Morgan Stanley reiterated an "equal weight" rating and issued a $25.00 price objective (down from $41.00) on shares of Appian in a research note on Thursday, April 30th. UBS Group set a $25.00 price objective on Appian in a research note on Thursday, April 30th. Finally, DA Davidson dropped their price objective on Appian from $25.00 to $22.00 and set a "neutral" rating on the stock in a research note on Friday, May 15th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $26.00.

Insiders Place Their Bets

In related news, CRO Mark Dorsey acquired 5,227 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $19.13 per share, with a total value of $99,992.51. Following the completion of the acquisition, the executive owned 13,993 shares of the company's stock, valued at $267,686.09. This trade represents a 59.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 43.00% of the company's stock.

Appian Company Profile

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.

Want to see what other hedge funds are holding APPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Appian Corporation (NASDAQ:APPN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.