Vanguard Group Inc. Boosts Stock Position in Appian Co. (NASDAQ:APPN)

Vanguard Group Inc. raised its stake in Appian Co. (NASDAQ:APPN - Free Report) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,556,543 shares of the company's stock after purchasing an additional 147,785 shares during the period. Vanguard Group Inc. owned approximately 6.22% of Appian worth $207,824,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new position in shares of Appian during the 1st quarter worth about $27,000. Captrust Financial Advisors lifted its holdings in shares of Appian by 44.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company's stock worth $63,000 after acquiring an additional 404 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Appian during the 1st quarter worth about $109,000. Tower Research Capital LLC TRC lifted its holdings in shares of Appian by 144.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company's stock worth $86,000 after acquiring an additional 1,065 shares during the period. Finally, Penserra Capital Management LLC lifted its holdings in shares of Appian by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,818 shares of the company's stock worth $110,000 after acquiring an additional 606 shares during the period. 52.70% of the stock is owned by institutional investors.

Insider Buying and Selling at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of Appian stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total transaction of $12,976,000.00. Following the completion of the sale, the insider now owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 692,014 shares of company stock worth $22,824,338. 43.60% of the stock is currently owned by corporate insiders.

Appian Price Performance

APPN traded up $0.73 during midday trading on Friday, hitting $39.95. The company had a trading volume of 485,211 shares, compared to its average volume of 589,297. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $2.93 billion, a PE ratio of -26.11 and a beta of 1.44. Appian Co. has a twelve month low of $30.87 and a twelve month high of $54.26. The firm's 50-day simple moving average is $35.11 and its 200-day simple moving average is $37.64.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $145.32 million during the quarter, compared to analysts' expectations of $140.41 million. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. Equities research analysts predict that Appian Co. will post -0.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of Appian from $45.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, February 16th. Citigroup lifted their price target on shares of Appian from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, March 22nd. DA Davidson cut their price target 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. Barclays cut their price target 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. Finally, William Blair reissued an "outperform" rating on shares of Appian in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Appian has an average rating of "Moderate Buy" and an average target price of $48.71.

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.