Marshall Wace LLP Acquires New Position in Appian Co. (NASDAQ:APPN)

Marshall Wace LLP purchased a new stake in Appian Co. (NASDAQ:APPN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 61,060 shares of the company's stock, valued at approximately $2,014,000. Marshall Wace LLP owned 0.07% of Appian as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its position in shares of Appian by 5.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock valued at $270,000 after acquiring an additional 400 shares during the period. Handelsbanken Fonder AB increased its stake in Appian by 14.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock valued at $284,000 after purchasing an additional 1,100 shares in the last quarter. Barclays PLC raised its holdings in shares of Appian by 4.5% during the fourth quarter. Barclays PLC now owns 75,023 shares of the company's stock valued at $2,474,000 after purchasing an additional 3,252 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock worth $125,000 after purchasing an additional 3,498 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in shares of Appian by 18.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company's stock valued at $1,081,000 after buying an additional 4,813 shares during the period. 52.70% of the stock is currently owned by institutional investors.

Appian Stock Performance

APPN traded up $0.12 during mid-day trading on Friday, reaching $31.45. 169,028 shares of the stock were exchanged, compared to its average volume of 552,901. Appian Co. has a 1 year low of $24.00 and a 1 year high of $43.33. The stock has a market capitalization of $2.33 billion, a PE ratio of -24.90 and a beta of 1.78. The company has a 50 day moving average price of $29.54 and a two-hundred day moving average price of $33.32.

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

Insider Activity at Appian

In other news, Director Albert G.W. Biddle III sold 990 shares of the 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 directly owns 29,348 shares of the company's stock, valued at $974,647.08. This represents a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total transaction of $1,711,422.00. Following the sale, the insider now owns 10,121,563 shares of the company's stock, valued at approximately $298,788,539.76. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 240,510 shares of company stock valued at $6,648,635. 44.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley dropped their price target on Appian from $35.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Scotiabank lowered their target price on Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. KeyCorp restated a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. Citigroup lowered their price objective on shares of Appian from $53.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, DA Davidson decreased their target price on shares of Appian from $40.00 to $28.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $34.14.

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.