9,690 Shares in Appian Co. (NASDAQ:APPN) Bought by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC bought a new position in Appian Co. (NASDAQ:APPN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,690 shares of the company's stock, valued at approximately $320,000.

Several other institutional investors have also made changes to their positions in APPN. Point72 Hong Kong Ltd purchased a new position in Appian during the fourth quarter valued at approximately $35,000. ProShare Advisors LLC grew its position in Appian by 46.4% during the fourth quarter. ProShare Advisors LLC now owns 11,788 shares of the company's stock valued at $389,000 after purchasing an additional 3,736 shares in the last quarter. Man Group plc purchased a new position in Appian during the fourth quarter valued at approximately $756,000. Nuveen Asset Management LLC grew its position in Appian by 110.0% during the fourth quarter. Nuveen Asset Management LLC now owns 222,748 shares of the company's stock valued at $7,346,000 after purchasing an additional 116,656 shares in the last quarter. Finally, Millennium Management LLC grew its position in Appian by 28.5% during the fourth quarter. Millennium Management LLC now owns 254,706 shares of the company's stock valued at $8,400,000 after purchasing an additional 56,420 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction, the insider now owns 9,199,001 shares of the company's stock, valued at $294,460,022.01. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the transaction, the director now directly owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 796,625 shares of company stock valued at $24,644,413 over the last 90 days. 43.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Appian Trading Down 2.3%

NASDAQ APPN traded down $0.71 during trading on Friday, reaching $30.71. The company's stock had a trading volume of 390,404 shares, compared to its average volume of 560,149. The stock has a market capitalization of $2.27 billion, a PE ratio of -24.37 and a beta of 1.83. The business has a 50-day moving average price of $29.73 and a 200-day moving average price of $33.10. 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 released its quarterly earnings results on Thursday, May 8th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.10. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The company had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. During the same quarter last year, the firm posted ($0.24) earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts expect that Appian Co. will post -0.28 earnings per share for the current year.

Appian Company 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.