MIG Capital LLC Invests $528,000 in Appian Corporation $APPN

Key Points

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

Several other hedge funds also recently modified their holdings of APPN. Voloridge Investment Management LLC boosted its position in shares of Appian by 222.6% in the fourth quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company's stock valued at $6,034,000 after acquiring an additional 126,256 shares during the period. Nuveen Asset Management LLC increased its stake in Appian by 110.0% during the fourth quarter. Nuveen Asset Management LLC now owns 222,748 shares of the company's stock valued at $7,346,000 after acquiring an additional 116,656 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Appian by 19.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 658,654 shares of the company's stock valued at $21,722,000 after acquiring an additional 106,023 shares during the period. Nuveen LLC bought a new position in Appian during the first quarter valued at about $3,007,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Appian during the fourth quarter valued at about $2,806,000. 52.70% of the stock is owned by institutional investors.

Appian Stock Up 2.8%

NASDAQ:APPN traded up $0.80 during trading hours on Friday, reaching $29.81. The company had a trading volume of 711,447 shares, compared to its average volume of 1,242,858. The stock has a 50-day moving average of $29.28 and a two-hundred day moving average of $30.28. Appian Corporation has a one year low of $24.00 and a one year high of $43.33. The firm has a market capitalization of $2.21 billion, a PE ratio of -129.60 and a beta of 1.75.

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley upped their target price on Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Zacks Research upgraded Appian to a "strong-buy" rating in a research note on Monday, August 11th. Barclays upped their target price on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Citigroup upped their target price on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, DA Davidson assumed coverage on Appian in a research note on Friday, August 8th. They issued a "neutral" rating and a $30.00 target price for the company. One 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. Based on data from MarketBeat.com, Appian currently has a consensus rating of "Hold" and an average target price of $33.40.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the business's stock in a transaction on 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 transaction, the insider owned 8,430,391 shares of the company's stock, valued at approximately $268,339,345.53. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,462,510 shares of company stock valued at $46,548,837 over the last quarter. 43.00% of the stock is currently owned by insiders.

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.