Woodline Partners LP Has $303,000 Position in Appian Co. (NASDAQ:APPN)

Woodline Partners LP lowered its position in Appian Co. (NASDAQ:APPN - Free Report) by 70.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,185 shares of the company's stock after selling 22,188 shares during the period. Woodline Partners LP's holdings in Appian were worth $303,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in APPN. Vanguard Group Inc. boosted its position in shares of Appian by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company's stock valued at $165,839,000 after acquiring an additional 23,890 shares during the period. Lead Edge Capital Management LLC raised its stake in Appian by 5.7% during the fourth quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company's stock worth $50,396,000 after acquiring an additional 83,000 shares in the last quarter. First Trust Advisors LP raised its stake in Appian by 7.1% during the fourth quarter. First Trust Advisors LP now owns 1,263,405 shares of the company's stock worth $41,667,000 after acquiring an additional 83,708 shares in the last quarter. Geode Capital Management LLC raised its stake in Appian by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock worth $32,071,000 after acquiring an additional 14,710 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in Appian by 19.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 658,654 shares of the company's stock worth $21,722,000 after acquiring an additional 106,023 shares in the last quarter. Institutional investors own 52.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on APPN shares. Scotiabank lowered their target price on Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. Morgan Stanley raised their target price on Appian from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Citigroup raised their target price on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. DA Davidson raised 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. Finally, Barclays raised their price target on 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 issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $36.29.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 53,337 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $31.45, for a total transaction of $1,677,448.65. Following the transaction, the insider now owns 9,067,828 shares of the company's stock, valued at $285,183,190.60. The trade was a 0.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 926,808 shares of company stock valued at $28,756,229 in the last 90 days. 44.00% of the stock is currently owned by insiders.

Appian Trading Up 0.5%

Shares of NASDAQ:APPN traded up $0.17 during trading on Friday, hitting $31.48. 732,009 shares of the company's stock traded hands, compared to its average volume of 559,846. Appian Co. has a 52 week low of $24.00 and a 52 week high of $43.33. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -24.98 and a beta of 1.83. The company has a 50-day moving average price of $29.77 and a 200-day moving average price of $32.83.

Appian (NASDAQ:APPN - Get Free Report) last announced its earnings results 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. 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 last year, the firm earned ($0.24) EPS. Appian's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts predict that Appian Co. will post -0.28 earnings per share for the current fiscal year.

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.