Nuveen Asset Management LLC Raises Stock Position in Appian Co. (NASDAQ:APPN)

Nuveen Asset Management LLC increased its holdings in shares of Appian Co. (NASDAQ:APPN - Free Report) by 110.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,748 shares of the company's stock after buying an additional 116,656 shares during the period. Nuveen Asset Management LLC owned about 0.26% of Appian worth $7,346,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. boosted its holdings in Appian by 5.1% in the fourth 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. Canada Pension Plan Investment Board grew its stake in Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock valued at $76,000 after acquiring an additional 500 shares during the period. Handelsbanken Fonder AB raised its position in shares of Appian by 14.7% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after purchasing an additional 1,100 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Appian by 8.0% in the 4th quarter. MetLife Investment Management LLC now owns 24,325 shares of the company's stock worth $802,000 after purchasing an additional 1,809 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Appian by 16.0% in the 4th quarter. Benjamin Edwards Inc. now owns 14,500 shares of the company's stock worth $478,000 after purchasing an additional 2,000 shares in the last quarter. 52.70% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp sold 1,400 shares of Appian stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $32.01, for a total value of $44,814.00. Following the completion of the transaction, the insider now directly owns 9,199,001 shares in the company, valued at approximately $294,460,022.01. The trade was a 0.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,564,245 shares of company stock valued at $48,922,874. 43.00% of the stock is owned by insiders.

Appian Stock Up 1.8%

APPN stock traded up $0.57 during midday trading on Tuesday, hitting $31.84. The company's stock had a trading volume of 678,897 shares, compared to its average volume of 560,371. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of -25.27 and a beta of 1.83. The stock's 50-day moving average price is $29.80 and its 200 day moving average price is $32.70. Appian Co. has a 1 year low of $24.00 and a 1 year high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The company had revenue of $166.43 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.24) earnings per share. As a group, equities analysts forecast that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays raised their price objective on shares of Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. DA Davidson lifted their price target on Appian from $28.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Scotiabank lowered their price objective on Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Morgan Stanley lifted their target price on Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, Citigroup increased their price target on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $36.29.

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.