SG Americas Securities LLC Grows Stake in Appian Corporation (NASDAQ:APPN)

SG Americas Securities LLC boosted its position in shares of Appian Corporation (NASDAQ:APPN - Free Report) by 165.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,809 shares of the company's stock after buying an additional 9,855 shares during the quarter. SG Americas Securities LLC's holdings in Appian were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in APPN. Point72 Hong Kong Ltd purchased a new position in shares of Appian in the fourth quarter valued at about $35,000. Canada Pension Plan Investment Board increased its holdings in Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock valued at $76,000 after purchasing an additional 500 shares during the period. Russell Investments Group Ltd. increased its holdings in Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after purchasing an additional 3,498 shares during the period. KLP Kapitalforvaltning AS bought a new position in Appian during the 4th quarter valued at approximately $181,000. Finally, Magnetar Financial LLC purchased a new stake in Appian in the 4th quarter worth approximately $249,000. Hedge funds and other institutional investors own 52.70% of the company's stock.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the sale, the insider now directly owns 9,942,140 shares of the company's stock, valued at approximately $263,367,288.60. This represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 2,258,145 shares of company stock valued at $71,160,372 in the last 90 days. Corporate insiders own 43.00% of the company's stock.

Appian Stock Down 2.4%

Shares of NASDAQ:APPN traded down $0.69 during midday trading on Wednesday, reaching $28.16. The company's stock had a trading volume of 608,674 shares, compared to its average volume of 562,795. The firm has a 50 day moving average of $30.67 and a 200-day moving average of $31.87. The firm has a market capitalization of $2.09 billion, a P/E ratio of -33.93 and a beta of 1.75. 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 data on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.10. The business had revenue of $166.43 million during the quarter, compared to analysts' expectations of $163.27 million. During the same quarter last year, the company posted ($0.24) EPS. Appian's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts predict that Appian Corporation will post -0.28 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on APPN shares. Morgan Stanley boosted 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. Scotiabank reduced their price objective on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Citigroup raised their target price on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Barclays boosted their price target on shares of Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. Finally, DA Davidson upgraded shares of Appian to a "hold" rating in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Appian has a consensus 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.