Appian Co. (NASDAQ:APPN) Stock Holdings Raised by Voloridge Investment Management LLC

Voloridge Investment Management LLC increased its position in shares of Appian Co. (NASDAQ:APPN - Free Report) by 222.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,965 shares of the company's stock after purchasing an additional 126,256 shares during the period. Voloridge Investment Management LLC owned approximately 0.21% of Appian worth $6,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in Appian during the 4th quarter worth $35,000. Canada Pension Plan Investment Board boosted its position in shares of Appian by 27.8% during the 4th 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. Russell Investments Group Ltd. boosted its position in shares of Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after purchasing an additional 3,498 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Appian during the 4th quarter valued at about $181,000. Finally, Entropy Technologies LP bought a new stake in shares of Appian during the 4th quarter valued at about $208,000. 52.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 9,942,140 shares in the company, valued at approximately $263,367,288.60. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 44.00% of the company's stock.

Appian Stock Down 0.2%

NASDAQ APPN traded down $0.06 during trading hours on Friday, hitting $31.25. 108,336 shares of the company were exchanged, compared to its average volume of 558,032. Appian Co. has a 52 week low of $24.00 and a 52 week high of $43.33. The stock has a 50-day moving average price of $29.78 and a 200 day moving average price of $32.89. The stock has a market cap of $2.31 billion, a PE ratio of -24.88 and a beta of 1.83.

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, topping the consensus estimate of $0.03 by $0.10. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. During the same quarter in the prior year, the firm posted ($0.24) EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Appian Co. will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Scotiabank reduced their price objective on Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Citigroup lifted their price objective on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. DA Davidson boosted their price target on Appian from $28.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Barclays lifted their price objective on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research report on Friday, May 9th. 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 report on Friday, May 9th. One 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.com, the company presently has an average rating of "Hold" and a consensus target price of $36.29.

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.