Twinbeech Capital LP Purchases New Position in Appian Co. (NASDAQ:APPN)

Twinbeech Capital LP bought a new position in Appian Co. (NASDAQ:APPN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 72,875 shares of the company's stock, valued at approximately $2,403,000. Twinbeech Capital LP owned 0.09% of Appian at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Appian by 285.9% in the 3rd quarter. Barclays PLC now owns 71,771 shares of the company's stock valued at $2,451,000 after purchasing an additional 53,172 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Appian in the 4th quarter valued at about $1,688,000. Geode Capital Management LLC raised its holdings in shares of Appian by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock valued at $32,071,000 after purchasing an additional 14,710 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Appian by 14.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock valued at $284,000 after purchasing an additional 1,100 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of 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 period. 52.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 1,400 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were 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 of the company's stock, valued at approximately $294,460,022.01. This represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 795,635 shares of company stock valued at $24,611,535. Corporate insiders own 43.00% of the company's stock.

Wall Street Analysts Forecast Growth

APPN has been the topic of several research analyst reports. Scotiabank lowered their price target on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Citigroup increased their price target on shares of Appian from $40.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Morgan Stanley increased their price target 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. DA Davidson increased their price target on shares of Appian from $28.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Barclays increased their price target on shares of Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a report on Friday, May 9th. One equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $36.29.

Appian Stock Up 3.0%

APPN traded up $0.92 during midday trading on Tuesday, hitting $31.63. The company had a trading volume of 113,711 shares, compared to its average volume of 558,500. Appian Co. has a 52 week low of $24.00 and a 52 week high of $43.33. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -25.10 and a beta of 1.83. The stock's 50 day moving average price is $29.74 and its 200 day moving average price is $32.97.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $166.43 million during 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%. The business's revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.24) earnings per share. Research analysts predict 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.