Harber Asset Management LLC Trims Holdings in Appian Co. (NASDAQ:APPN)

Harber Asset Management LLC decreased its holdings in Appian Co. (NASDAQ:APPN - Free Report) by 40.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 232,695 shares of the company's stock after selling 157,005 shares during the period. Appian accounts for about 2.3% of Harber Asset Management LLC's portfolio, making the stock its 20th biggest holding. Harber Asset Management LLC owned approximately 0.27% of Appian worth $7,674,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in APPN. Russell Investments Group Ltd. grew its holdings in 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 buying an additional 3,498 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Appian during the 4th quarter valued at about $181,000. FMR LLC grew its position in shares of Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company's stock valued at $203,000 after purchasing an additional 3,953 shares in the last quarter. Entropy Technologies LP bought a new stake in Appian in the 4th quarter worth approximately $208,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Appian during the 4th quarter worth approximately $249,000. Hedge funds and other institutional investors own 52.70% of the company's stock.

Appian Trading Down 1.3 %

Shares of NASDAQ APPN traded down $0.36 during mid-day trading on Friday, reaching $26.56. The company had a trading volume of 843,065 shares, compared to its average volume of 548,782. Appian Co. has a 52 week low of $24.00 and a 52 week high of $43.33. The business's 50-day moving average is $30.20 and its 200-day moving average is $33.50. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -21.08 and a beta of 1.78.

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

Insider Activity

In related news, Director Albert G.W. Biddle III sold 990 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the transaction, the director now owns 29,348 shares in the company, valued at $974,647.08. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $2,080,206.72. Following the completion of the sale, the insider now owns 9,942,140 shares of the company's stock, valued at approximately $263,367,288.60. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,510 shares of company stock worth $6,648,635. 44.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on APPN. KeyCorp restated a "sector weight" rating on shares of Appian in a research report on Tuesday, January 14th. Scotiabank began coverage on shares of Appian in a research report on Monday, January 6th. They set a "sector perform" rating and a $37.00 target price on the stock. Morgan Stanley decreased their price objective on Appian from $35.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, DA Davidson dropped their target price on Appian from $40.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $35.17.

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.