SG Americas Securities LLC Boosts Stock Holdings in Appian Corporation (NASDAQ:APPN)

SG Americas Securities LLC increased its holdings in shares of Appian Corporation (NASDAQ:APPN - Free Report) by 165.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,809 shares of the company's stock after acquiring an additional 9,855 shares during the period. SG Americas Securities LLC's holdings in Appian were worth $455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of APPN. Point72 Hong Kong Ltd bought a new stake in shares of Appian in the 4th quarter worth approximately $35,000. Canada Pension Plan Investment Board boosted its holdings in Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after acquiring an additional 500 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of 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 acquiring an additional 3,498 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Appian during the fourth quarter valued at $181,000. Finally, GAMMA Investing LLC increased its stake in Appian by 2,716.2% during the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock valued at $1,800,000 after purchasing an additional 6,030 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Appian Stock Performance

Shares of NASDAQ APPN traded up $0.63 during midday trading on Friday, hitting $29.00. 711,266 shares of the stock traded hands, compared to its average volume of 566,789. The firm has a market capitalization of $2.15 billion, a P/E ratio of -34.94 and a beta of 1.75. Appian Corporation has a one year low of $24.00 and a one year high of $43.33. The firm has a 50-day moving average of $30.71 and a two-hundred day moving average of $31.79.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.10. The firm had revenue of $166.43 million for the quarter, compared to the consensus estimate of $163.27 million. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts forecast that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 1,400 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was 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 owns 9,199,001 shares of the company's stock, valued at $294,460,022.01. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 2,258,145 shares of company stock valued at $71,160,372 in the last 90 days. Company insiders own 43.00% of the company's stock.

Wall Street Analysts Forecast Growth

APPN has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. DA Davidson raised Appian to a "hold" rating in a research report on Monday, June 9th. Scotiabank cut their target price on Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Barclays upped their price target on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a report on Friday, May 9th. Finally, Citigroup increased their price objective on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $36.29.

About Appian

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.