PDT Partners LLC Raises Position in Appian Corporation $APPN

Key Points

• PDT Partners LLC increased its stake in Appian Corporation by 23.3% during the first quarter, now owning approximately 0.07% of the company valued at $1.56 million.
• Appian's quarterly earnings report showed a loss of ($0.14) EPS, slightly missing expectations, but revenue increased by 16.5% year-over-year to $170.64 million.
• 54% of Appian's stock is held by institutional investors, with several large investors significantly boosting their positions in the first quarter.

PDT Partners LLC increased its position in shares of Appian Corporation (NASDAQ:APPN - Free Report) by 23.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,111 shares of the company's stock after purchasing an additional 10,230 shares during the quarter. PDT Partners LLC owned approximately 0.07% of Appian worth $1,559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of Appian by 3.5% in the 4th quarter. Northern Trust Corp now owns 363,921 shares of the company's stock worth $12,002,000 after buying an additional 12,337 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Appian in the fourth quarter worth $320,000. Algert Global LLC boosted its position in Appian by 28.6% in the fourth quarter. Algert Global LLC now owns 64,394 shares of the company's stock worth $2,124,000 after purchasing an additional 14,319 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Appian in the fourth quarter worth $268,000. Finally, Benjamin Edwards Inc. boosted its position in Appian by 16.0% in the fourth quarter. Benjamin Edwards Inc. now owns 14,500 shares of the company's stock worth $478,000 after purchasing an additional 2,000 shares during the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APPN. Zacks Research raised shares of Appian to a "strong-buy" rating in a report on Monday, August 11th. Citigroup boosted their price target on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, DA Davidson started coverage on shares of Appian in a research note on Friday, August 8th. They issued a "neutral" rating and a $30.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $33.40.

Appian Stock Up 1.2%

APPN traded up $0.37 during trading on Monday, reaching $30.94. 413,496 shares of the company were exchanged, compared to its average volume of 683,564. The company's 50-day moving average is $29.48 and its two-hundred day moving average is $29.98. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -134.44 and a beta of 1.71. Appian Corporation has a 12-month low of $24.00 and a 12-month high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last announced 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 firm had revenue of $170.64 million for the quarter, compared to analysts' expectations of $160.01 million. During the same quarter last year, the firm posted ($0.26) earnings per share. The company's quarterly revenue 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. Equities analysts forecast that Appian Corporation will post -0.28 earnings per share for the current year.

Insider Buying and Selling at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $31.45, for a total value of $328,652.50. Following the sale, the insider owned 7,736,491 shares of the company's stock, valued at $243,312,641.95. This trade represents a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 44.00% 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.