Appian Corporation (NASDAQ:APPN - Get Free Report) was the recipient of some unusual options trading on Monday. Investors bought 11,091 put options on the company. This is an increase of approximately 705% compared to the average daily volume of 1,378 put options.
Insider Buying and Selling at Appian
In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 1,400 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $32.01, for a total value of $44,814.00. Following the sale, the insider now directly owns 9,199,001 shares in the company, valued at $294,460,022.01. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 2,258,145 shares of company stock valued at $71,160,372. Company insiders own 43.00% of the company's stock.
Institutional Investors Weigh In On Appian
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in shares of Appian by 4.4% in the first quarter. Rhumbline Advisers now owns 60,088 shares of the company's stock worth $1,731,000 after acquiring an additional 2,528 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Appian in the 1st quarter valued at $2,300,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Appian by 2.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,080 shares of the company's stock valued at $2,595,000 after buying an additional 2,244 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Appian by 2.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 385,731 shares of the company's stock worth $11,113,000 after purchasing an additional 8,319 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Appian by 347,121.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,579,858 shares of the company's stock valued at $45,516,000 after acquiring an additional 1,579,403 shares during the period. Institutional investors and hedge funds own 52.70% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on APPN shares. DA Davidson upgraded shares of Appian to a "hold" rating in a research report on Monday, June 9th. Morgan Stanley upped their target price 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. Barclays lifted their price objective on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a research note on Friday, May 9th. Citigroup increased their price target on shares of Appian from $40.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, Scotiabank decreased their target price on Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Appian currently has an average rating of "Hold" and an average price target of $36.29.
Check Out Our Latest Research Report on APPN
Appian Stock Performance
Shares of Appian stock traded up $0.15 during midday trading on Thursday, hitting $30.12. The company had a trading volume of 333,098 shares, compared to its average volume of 559,700. The company has a fifty day simple moving average of $30.52 and a 200 day simple moving average of $32.24. Appian has a 12-month low of $24.00 and a 12-month high of $43.33.
Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm 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 business posted ($0.24) EPS. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Appian will post -0.28 EPS for the current year.
About Appian
(
Get Free Report)
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.
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