Geode Capital Management LLC Has $32.07 Million Stock Position in Appian Co. (NASDAQ:APPN)

Geode Capital Management LLC grew its stake in shares of Appian Co. (NASDAQ:APPN - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 972,203 shares of the company's stock after buying an additional 14,710 shares during the period. Geode Capital Management LLC owned approximately 1.14% of Appian worth $32,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. KLP Kapitalforvaltning AS bought a new stake in shares of Appian in the fourth quarter worth about $181,000. FMR LLC raised its holdings in Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company's stock worth $203,000 after acquiring an additional 3,953 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Appian in the 4th quarter valued at approximately $208,000. Magnetar Financial LLC acquired a new stake in Appian in the fourth quarter valued at $249,000. Finally, Summit Global Investments bought a new position in Appian during the fourth quarter worth about $256,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APPN has been the topic of a number of research analyst reports. KeyCorp restated a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. Citigroup cut their target price on shares of Appian from $53.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday. DA Davidson decreased their price target on shares of Appian from $40.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Scotiabank initiated coverage on Appian in a research report on Monday, January 6th. They set a "sector perform" rating and a $37.00 price objective on the stock. Finally, Barclays lowered their target price on shares of Appian from $37.00 to $28.00 and set an "underweight" rating on the stock in a report on Monday. One investment 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 data from MarketBeat, Appian has an average rating of "Hold" and an average target price of $34.57.

Appian Trading Up 3.5 %

Appian stock traded up $0.91 during midday trading on Tuesday, reaching $26.74. The company's stock had a trading volume of 544,185 shares, compared to its average volume of 549,251. The stock has a market cap of $1.98 billion, a PE ratio of -21.22 and a beta of 1.78. Appian Co. has a 52 week low of $24.00 and a 52 week high of $43.33. The business has a 50-day moving average price of $29.90 and a 200-day moving average price of $33.39.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company had revenue of $166.70 million for the quarter, compared to analyst estimates of $164.31 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. Appian's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research analysts predict that Appian Co. will post -0.28 EPS for the current fiscal year.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the transaction, the insider now owns 9,942,140 shares in the company, valued at $263,367,288.60. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Albert G.W. Biddle III sold 990 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the sale, the director now directly owns 29,348 shares in the company, valued at $974,647.08. The trade was a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 240,510 shares of company stock valued at $6,648,635 in the last 90 days. 44.00% of the stock is owned by corporate insiders.

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.