Stanley Laman Group Ltd. Has $4.57 Million Position in Appian Co. (NASDAQ:APPN)

Stanley Laman Group Ltd. increased its position in shares of Appian Co. (NASDAQ:APPN - Free Report) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,675 shares of the company's stock after purchasing an additional 15,815 shares during the quarter. Stanley Laman Group Ltd. owned 0.21% of Appian worth $4,571,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of APPN. Barclays PLC lifted its stake in Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company's stock worth $2,451,000 after purchasing an additional 53,172 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Appian during the 4th quarter valued at approximately $1,688,000. Geode Capital Management LLC increased its position in Appian by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock worth $32,071,000 after purchasing an additional 14,710 shares in the last quarter. Handelsbanken Fonder AB increased its position in Appian by 14.7% during the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Appian by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company's stock valued at $165,839,000 after purchasing an additional 23,890 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Stock Down 3.7%

APPN traded down $1.13 during trading on Friday, reaching $29.46. 344,845 shares of the stock traded hands, compared to its average volume of 562,856. The stock's 50-day moving average is $30.27 and its 200 day moving average is $32.45. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33. The stock has a market capitalization of $2.19 billion, a PE ratio of -23.38 and a beta of 1.75.

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

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 1,400 shares of the firm'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 sale, the insider now directly owns 9,199,001 shares in the company, valued at $294,460,022.01. This trade represents a 0.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 2,258,145 shares of company stock valued at $71,160,372 in the last quarter. 43.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

APPN has been the topic of several recent research reports. Barclays raised their price objective on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a report on Friday, May 9th. Scotiabank cut their target price 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. DA Davidson upgraded shares of Appian to a "hold" rating in a research report on Monday. Citigroup raised their price target on shares of Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, Morgan Stanley boosted their price objective 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $36.29.

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.