Stanley Laman Group Ltd. raised its stake in Appian Co. (NASDAQ:APPN - Free Report) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,675 shares of the company's stock after acquiring an additional 15,815 shares during the period. Stanley Laman Group Ltd. owned approximately 0.21% of Appian worth $4,571,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of APPN. Oppenheimer & Co. Inc. raised its holdings in Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock valued at $270,000 after acquiring an additional 400 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Appian by 27.8% in the fourth 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 in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Appian in the fourth quarter valued at approximately $35,000. Handelsbanken Fonder AB lifted its position in Appian by 14.7% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after buying an additional 1,100 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Appian by 8.0% during the fourth quarter. MetLife Investment Management LLC now owns 24,325 shares of the company's stock worth $802,000 after buying an additional 1,809 shares during the last quarter. Institutional investors own 52.70% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Scotiabank reduced their price target on Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Barclays lifted their target price on shares of Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research note on Friday, May 9th. DA Davidson upgraded shares of Appian to a "hold" rating in a report on Monday, June 9th. Morgan Stanley upped their price objective on Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, Citigroup raised their target price on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $36.29.
Read Our Latest Stock Analysis on Appian
Insider Activity
In related news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock in a transaction 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 directly owns 9,942,140 shares in the company, valued at $263,367,288.60. This trade represents a 0.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 2,258,145 shares of company stock worth $71,160,372. 43.00% of the stock is currently owned by insiders.
Appian Trading Up 3.3%
NASDAQ:APPN traded up $0.98 during mid-day trading on Monday, hitting $30.44. The stock had a trading volume of 543,663 shares, compared to its average volume of 563,403. Appian Co. has a twelve month low of $24.00 and a twelve month high of $43.33. The stock has a 50-day simple moving average of $30.35 and a two-hundred day simple moving average of $32.33. The company has a market capitalization of $2.26 billion, a PE ratio of -24.16 and a beta of 1.75.
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, beating analysts' consensus estimates of $0.03 by $0.10. The business had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The company's revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned ($0.24) EPS. Sell-side analysts predict that Appian Co. will post -0.28 EPS for the current fiscal year.
Appian Company Profile
(
Free Report)
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.
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