Baillie Gifford & Co. Decreases Stock Holdings in Appian Co. (NASDAQ:APPN)

Baillie Gifford & Co. cut its holdings in shares of Appian Co. (NASDAQ:APPN - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,663,168 shares of the company's stock after selling 211,469 shares during the quarter. Baillie Gifford & Co. owned approximately 2.27% of Appian worth $62,635,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd increased its holdings in Appian by 4.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 5,275 shares of the company's stock worth $251,000 after acquiring an additional 239 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Appian by 0.5% in the 3rd quarter. Rhumbline Advisers now owns 59,692 shares of the company's stock worth $2,723,000 after buying an additional 299 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Appian by 13.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company's stock worth $153,000 after buying an additional 305 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Appian by 9.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,480 shares of the company's stock worth $166,000 after buying an additional 306 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Appian by 10.5% in the 3rd quarter. Royal Bank of Canada now owns 3,718 shares of the company's stock worth $152,000 after buying an additional 352 shares during the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Trading Down 4.2 %

Shares of NASDAQ:APPN traded down $1.72 on Wednesday, hitting $39.40. The company had a trading volume of 461,093 shares, compared to its average volume of 486,461. The firm's 50-day simple moving average is $35.72 and its two-hundred day simple moving average is $37.25. Appian Co. has a 1 year low of $30.87 and a 1 year high of $54.26. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -25.75 and a beta of 1.46.

Appian (NASDAQ:APPN - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping 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 analysts' expectations of $140.41 million. Equities analysts anticipate that Appian Co. will post -0.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APPN. KeyCorp upped their price objective on shares of Appian from $45.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, February 16th. Barclays dropped their price target on shares of Appian from $40.00 to $35.00 and set an "underweight" rating for the company in a research report on Friday, January 12th. DA Davidson dropped their price target on shares of Appian from $55.00 to $52.00 and set a "buy" rating for the company in a research report on Monday, March 4th. Citigroup increased their price target on shares of Appian from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, March 22nd. Finally, William Blair reissued an "outperform" rating on shares of Appian in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.71.

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 43.60% 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.