MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 11,476 Shares of Appian Corporation $APPN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in Appian Corporation by 2.2%, selling 11,476 shares, and now holds 520,054 shares valued at approximately $14.98 million.
• Appian's stock has experienced increased trading activity, with a recent price of $31.50 and a market cap of $2.33 billion, despite a current PE ratio of -136.95.
• Analyst ratings for Appian currently show a consensus of "Hold," with a target price of $33.40 following a recent downgrade by Zacks Research.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in shares of Appian Corporation (NASDAQ:APPN - Free Report) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 520,054 shares of the company's stock after selling 11,476 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.70% of Appian worth $14,983,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in APPN. Hawk Ridge Capital Management LP purchased a new stake in shares of Appian during the first quarter valued at approximately $7,557,000. Jacobs Levy Equity Management Inc. purchased a new stake in Appian in the first quarter worth approximately $7,166,000. AQR Capital Management LLC boosted its holdings in Appian by 368.8% in the first quarter. AQR Capital Management LLC now owns 199,869 shares of the company's stock worth $5,758,000 after purchasing an additional 157,233 shares during the last quarter. Trexquant Investment LP boosted its holdings in Appian by 87.5% in the first quarter. Trexquant Investment LP now owns 311,753 shares of the company's stock worth $8,982,000 after purchasing an additional 145,450 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Appian by 222.6% in the fourth quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company's stock worth $6,034,000 after purchasing an additional 126,256 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on APPN shares. Zacks Research cut shares of Appian from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th. DA Davidson started coverage on shares of Appian in a report on Friday, August 8th. They issued a "neutral" rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Appian currently has a consensus rating of "Hold" and a consensus target price of $33.40.

Appian Stock Down 2.3%

APPN traded down $0.72 during trading on Friday, hitting $30.78. The company's stock had a trading volume of 520,019 shares, compared to its average volume of 821,863. Appian Corporation has a one year low of $24.00 and a one year high of $43.33. The firm has a market cap of $2.28 billion, a PE ratio of -133.82 and a beta of 1.71. The business's 50 day simple moving average is $29.62 and its 200-day simple moving average is $29.93.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The business had revenue of $170.64 million for the quarter, compared to analyst estimates of $160.01 million. The company's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.26) EPS. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. Equities research analysts expect that Appian Corporation will post -0.28 EPS for the current fiscal 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.