MIG Capital LLC Makes New $528,000 Investment in Appian Corporation $APPN

Key Points

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MIG Capital LLC purchased a new position in Appian Corporation (NASDAQ:APPN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,326 shares of the company's stock, valued at approximately $528,000.

Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in Appian by 1,244.8% in the fourth 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. GAMMA Investing LLC lifted its stake in 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. Teacher Retirement System of Texas bought a new stake in Appian in the first quarter worth $373,000. Raymond James Financial Inc. bought a new stake in Appian in the fourth quarter worth $1,688,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Appian by 9.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,836 shares of the company's stock worth $2,897,000 after purchasing an additional 7,594 shares during the last quarter. 52.70% of the stock is owned by institutional investors.

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $31.83, for a total value of $9,549,000.00. Following the completion of the transaction, the insider directly owned 8,430,391 shares of the company's stock, valued at $268,339,345.53. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,462,510 shares of company stock valued at $46,548,837 over the last ninety days. 44.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on APPN shares. Citigroup boosted their price target 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 upgraded shares of Appian to a "strong-buy" rating in a report on Monday, August 11th. Morgan Stanley increased their target price on shares of Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. DA Davidson began coverage on shares of Appian in a report on Friday, August 8th. They set a "neutral" rating and a $30.00 target price for the company. Finally, Barclays increased their target price on shares of Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $33.40.

Appian Price Performance

APPN stock traded up $0.80 during trading on Friday, reaching $29.81. The company had a trading volume of 711,447 shares, compared to its average volume of 1,233,026. Appian Corporation has a 52 week low of $24.00 and a 52 week high of $43.33. The company has a market cap of $2.21 billion, a P/E ratio of -129.60 and a beta of 1.75. The business has a 50 day moving average of $29.28 and a 200 day moving average of $30.22.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings results 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 company had revenue of $170.64 million for the quarter, compared to the consensus estimate of $160.01 million. During the same period in the prior year, the firm posted ($0.26) earnings per share. Appian's quarterly revenue was up 16.5% compared to the same quarter last year. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. Research analysts expect that Appian Corporation will post -0.28 earnings per share for the current year.

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.