Two Sigma Investments LP Has $680,000 Position in Appian Co. (NASDAQ:APPN)

Two Sigma Investments LP lowered its stake in shares of Appian Co. (NASDAQ:APPN - Free Report) by 40.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 20,629 shares of the company's stock after selling 13,848 shares during the period. Two Sigma Investments LP's holdings in Appian were worth $680,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in APPN. Barclays PLC increased its stake in Appian by 285.9% in the third quarter. Barclays PLC now owns 71,771 shares of the company's stock valued at $2,451,000 after acquiring an additional 53,172 shares during the period. Entropy Technologies LP bought a new stake in Appian in the fourth quarter valued at about $208,000. Handelsbanken Fonder AB increased 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 acquiring an additional 1,100 shares during the period. Oppenheimer & Co. Inc. increased its stake in Appian by 5.1% in the fourth 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 period. Finally, Versor Investments LP bought a new stake in Appian in the fourth quarter valued at about $574,000. Institutional investors and hedge funds own 52.70% of the company's stock.

Appian Stock Up 1.2%

NASDAQ APPN opened at $32.18 on Friday. The company has a market capitalization of $2.39 billion, a P/E ratio of -25.54 and a beta of 1.75. Appian Co. has a 12-month low of $24.00 and a 12-month high of $43.33. The firm has a 50-day moving average price of $29.97 and a two-hundred day moving average price of $32.61.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.24) EPS. Equities analysts expect that Appian Co. will post -0.28 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. DA Davidson upped 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. Scotiabank decreased their price objective on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Citigroup upped their price objective on shares of Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Barclays upped their price objective 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. Finally, Morgan Stanley upped 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $36.29.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 225,720 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $32.21, for a total value of $7,270,441.20. Following the sale, the insider now directly owns 7,853,441 shares of the company's stock, valued at approximately $252,959,334.61. This represents a 2.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 2,141,195 shares of company stock valued at $67,441,394 in the last ninety days. 43.00% of the stock is currently owned by insiders.

About Appian

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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