Appian (NASDAQ:APPN) Reaches New 12-Month Low at $28.35

Appian Co. (NASDAQ:APPN - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $28.35 and last traded at $29.06, with a volume of 459224 shares changing hands. The stock had previously closed at $36.73.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on APPN shares. William Blair restated an "outperform" rating on shares of Appian in a report on Wednesday, March 20th. DA Davidson lowered their target price on shares of Appian from $55.00 to $52.00 and set a "buy" rating for the company in a report on Monday, March 4th. KeyCorp boosted their price objective on shares of Appian from $45.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, February 16th. Barclays boosted their price objective on shares of Appian from $35.00 to $36.00 and gave the stock an "underweight" rating in a research note on Monday, April 15th. Finally, Citigroup boosted their price objective on shares of Appian from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.86.

Appian Stock Down 15.5 %

The firm has a market capitalization of $2.28 billion, a PE ratio of -19.82 and a beta of 1.46. The firm's 50 day moving average price is $36.75 and its two-hundred day moving average price is $36.61. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.33. The business had revenue of $145.32 million during the quarter, compared to the consensus estimate of $140.41 million. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. As a group, research analysts forecast that Appian Co. will post -0.9 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the sale, the insider now directly owns 5,890,304 shares of the company's stock, valued at $191,081,461.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 43.60% of the company's stock.

Institutional Trading of Appian

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Appian by 16.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,933 shares of the company's stock worth $225,000 after purchasing an additional 695 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Appian by 6.1% during the third quarter. Bank of New York Mellon Corp now owns 192,291 shares of the company's stock worth $8,770,000 after purchasing an additional 10,999 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Appian by 8.3% during the third quarter. Los Angeles Capital Management LLC now owns 20,404 shares of the company's stock worth $931,000 after purchasing an additional 1,562 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Appian by 18.6% during the third quarter. New York State Common Retirement Fund now owns 22,286 shares of the company's stock worth $1,016,000 after purchasing an additional 3,496 shares during the period. Finally, Quantbot Technologies LP raised its holdings in shares of Appian by 157.9% during the third quarter. Quantbot Technologies LP now owns 22,782 shares of the company's stock worth $1,039,000 after purchasing an additional 13,948 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

About Appian

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.