Man Group plc bought a new stake in Appian Co. (NASDAQ:APPN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 22,935 shares of the company's stock, valued at approximately $756,000.
Other institutional investors also recently made changes to their positions in the company. Barclays PLC increased its position in Appian by 285.9% during the 3rd quarter. Barclays PLC now owns 71,771 shares of the company's stock worth $2,451,000 after purchasing an additional 53,172 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Appian by 18.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company's stock worth $1,081,000 after acquiring an additional 4,813 shares during the period. Entropy Technologies LP purchased a new position in Appian in the 4th quarter worth approximately $208,000. Handelsbanken Fonder AB boosted its stake in shares of Appian by 14.7% during the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock valued at $284,000 after buying an additional 1,100 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in Appian by 5.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock valued at $270,000 after acquiring an additional 400 shares during the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently weighed in on APPN. Barclays boosted their price objective on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a report on Friday, May 9th. Morgan Stanley increased their target price on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Citigroup increased their target price on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. DA Davidson raised their price target on Appian from $28.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Scotiabank lowered their price objective on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $36.29.
View Our Latest Report on Appian
Appian Stock Performance
NASDAQ APPN traded down $0.26 on Wednesday, reaching $31.23. The company's stock had a trading volume of 483,009 shares, compared to its average volume of 560,096. Appian Co. has a twelve month low of $24.00 and a twelve month high of $43.33. The stock has a market cap of $2.31 billion, a PE ratio of -24.79 and a beta of 1.83. The firm's 50 day moving average is $29.78 and its two-hundred day moving average is $32.96.
Appian (NASDAQ:APPN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. The business had revenue of $166.43 million for the quarter, compared to the consensus estimate of $163.27 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.24) earnings per share. Equities research analysts anticipate that Appian Co. will post -0.28 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, major shareholder Abdiel Capital Advisors, Lp sold 1,400 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $32.01, for a total transaction of $44,814.00. Following the transaction, the insider now owns 9,199,001 shares of the company's stock, valued at approximately $294,460,022.01. This trade represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 795,635 shares of company stock worth $24,611,535 in the last quarter. 44.00% of the stock is currently owned by corporate insiders.
About Appian
(
Free Report)
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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