Appian (NASDAQ:APPN) Stock Price Down 4.2%

Shares of Appian Co. (NASDAQ:APPN - Get Free Report) were down 4.2% during mid-day trading on Monday . The stock traded as low as $38.25 and last traded at $38.28. Approximately 64,977 shares were traded during trading, a decline of 87% from the average daily volume of 491,741 shares. The stock had previously closed at $39.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on APPN shares. William Blair restated an "outperform" rating on shares of Appian in a research note on Wednesday, March 20th. DA Davidson decreased their price target on shares of Appian from $55.00 to $52.00 and set a "buy" rating for the company in a research note on Monday, March 4th. Citigroup raised their price target 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. KeyCorp raised their price target 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. Finally, Barclays cut their price objective on shares of Appian from $40.00 to $35.00 and set an "underweight" rating for the company in a report on Friday, January 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $48.71.

Appian Stock Performance

The company's fifty day moving average is $35.11 and its 200 day moving average is $37.64. The company has a market capitalization of $2.78 billion, a P/E ratio of -24.76 and a beta of 1.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.33. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. The firm had revenue of $145.32 million during the quarter, compared to the consensus estimate of $140.41 million. As a group, equities analysts anticipate that Appian Co. will post -0.98 earnings per share for the current year.

Insider Buying and Selling at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 44,014 shares of the firm's stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $35.56, for a total value of $1,565,137.84. Following the completion of the transaction, the insider now directly owns 6,567,430 shares of the company's stock, valued at approximately $233,537,810.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 692,014 shares of company stock valued at $22,824,338 in the last three months. Company insiders own 43.60% of the company's stock.

Institutional Trading of Appian

Several institutional investors and hedge funds have recently made changes to their positions in APPN. Raymond James & Associates raised its position in shares of Appian by 15.2% during the 1st quarter. Raymond James & Associates now owns 3,816 shares of the company's stock valued at $232,000 after buying an additional 503 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Appian by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 166,769 shares of the company's stock valued at $10,142,000 after buying an additional 501 shares in the last quarter. US Bancorp DE raised its position in shares of Appian by 8.1% during the 1st quarter. US Bancorp DE now owns 5,838 shares of the company's stock valued at $355,000 after buying an additional 439 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Appian by 13.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company's stock valued at $153,000 after buying an additional 305 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Appian during the 1st quarter valued at $962,000. Hedge funds and other institutional investors own 52.70% of the company's stock.

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.