Squarepoint Ops LLC Boosts Stake in Appian Co. (NASDAQ:APPN)

Squarepoint Ops LLC boosted its position in shares of Appian Co. (NASDAQ:APPN - Free Report) by 60.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,546 shares of the company's stock after acquiring an additional 9,630 shares during the period. Squarepoint Ops LLC's holdings in Appian were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. increased its position in shares of Appian by 5.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock worth $270,000 after purchasing an additional 400 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after buying an additional 500 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Appian during the 4th quarter valued at about $35,000. Handelsbanken Fonder AB raised its stake in Appian by 14.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock valued at $284,000 after buying an additional 1,100 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in Appian by 8.0% in the fourth quarter. MetLife Investment Management LLC now owns 24,325 shares of the company's stock valued at $802,000 after buying an additional 1,809 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the firm's stock in a transaction that occurred on 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 owns 9,942,140 shares of the company's stock, valued at $263,367,288.60. This trade represents a 0.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 926,808 shares of company stock valued at $28,756,229. Company insiders own 43.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their price target on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Scotiabank lowered 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. Barclays upped their price target 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 objective on shares of Appian from $28.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Morgan Stanley boosted their price objective on shares of Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. One investment 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 data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $36.29.

Appian Price Performance

NASDAQ:APPN 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 560,272. Appian Co. has a fifty-two week low of $24.00 and a fifty-two week high of $43.33. The firm has a market cap of $2.36 billion, a P/E ratio of -25.27 and a beta of 1.83. The firm's 50 day moving average is $29.77 and its 200-day moving average is $32.71.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. The business had revenue of $166.43 million for the quarter, compared to the consensus estimate of $163.27 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. During the same period in the prior year, the firm earned ($0.24) EPS. The business's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts forecast that Appian Co. will post -0.28 EPS for the current year.

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.