XTX Topco Ltd Has $605,000 Stake in Appian Corporation (NASDAQ:APPN)

Key Points

• XTX Topco Ltd increased its stake in Appian Corporation by 76.3%, acquiring an additional 9,085 shares in the first quarter, bringing their total holdings to 20,994 shares worth approximately $605,000.
• Several institutional investors have also made significant changes to their positions in Appian, with 52.70% of the stock currently owned by hedge funds and other institutional investors.
• Analysts have varied opinions on Appian's stock, with target prices ranging from $29.00 to $41.00, while the stock currently has a consensus rating of "Hold" and a target price of $34.40.

XTX Topco Ltd increased its position in shares of Appian Corporation (NASDAQ:APPN - Free Report) by 76.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,994 shares of the company's stock after purchasing an additional 9,085 shares during the quarter. XTX Topco Ltd's holdings in Appian were worth $605,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased 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 worth $32,071,000 after acquiring an additional 14,710 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after buying an additional 3,498 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Appian by 418.8% during the fourth quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company's stock worth $5,303,000 after buying an additional 129,800 shares during the period. GAMMA Investing LLC grew its holdings in Appian by 2,716.2% in the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock worth $1,800,000 after buying an additional 6,030 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Appian in the 1st quarter valued at approximately $373,000. Institutional investors and hedge funds own 52.70% of the company's stock.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $31.83, for a total transaction of $9,549,000.00. Following the completion of the sale, the insider owned 8,430,391 shares of the company's stock, valued at approximately $268,339,345.53. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 1,878,575 shares of company stock worth $60,068,617. Insiders own 43.00% of the company's stock.

Appian Price Performance

NASDAQ:APPN traded up $2.23 during trading hours on Thursday, hitting $29.18. 3,980,913 shares of the stock traded hands, compared to its average volume of 814,481. The firm has a 50 day moving average price of $29.74 and a 200 day moving average price of $30.68. Appian Corporation has a fifty-two week low of $24.00 and a fifty-two week high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Appian's quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the business posted ($0.26) EPS. Equities analysts expect that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on APPN. Scotiabank decreased their target price on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. Barclays upped their target price on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. Citigroup boosted their price objective on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. DA Davidson raised Appian to a "hold" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley boosted their price target on shares of Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $34.40.

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.