Norges Bank bought a new position in Appian Co. (NASDAQ:APPN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 122,674 shares of the company's stock, valued at approximately $4,046,000. Norges Bank owned about 0.14% of Appian as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Appian during the fourth quarter worth approximately $181,000. FMR LLC grew its position in Appian by 199.4% during the 3rd quarter. FMR LLC now owns 5,935 shares of the company's stock worth $203,000 after acquiring an additional 3,953 shares during the last quarter. Entropy Technologies LP acquired a new stake in Appian during the 4th quarter valued at $208,000. Magnetar Financial LLC bought a new position in Appian in the 4th quarter valued at $249,000. Finally, Summit Global Investments acquired a new position in Appian in the fourth quarter worth $256,000. Institutional investors and hedge funds own 52.70% of the company's stock.
Insiders Place Their Bets
In related news, major shareholder Abdiel Capital Advisors, Lp sold 29,971 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $27.04, for a total transaction of $810,415.84. Following the completion of the transaction, the insider now owns 9,835,219 shares in the company, valued at approximately $265,944,321.76. The trade was a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Albert G.W. Biddle III sold 990 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the sale, the director now directly owns 29,348 shares in the company, valued at $974,647.08. The trade was a 3.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,407 shares of company stock valued at $5,616,122. Company insiders own 44.00% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on APPN shares. Scotiabank initiated coverage on Appian in a research note on Monday, January 6th. They issued a "sector perform" rating and a $37.00 target price for the company. DA Davidson lowered their price objective on shares of Appian from $40.00 to $28.00 and set a "neutral" rating for the company in a research report on Monday. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $36.80.
Check Out Our Latest Stock Analysis on Appian
Appian Trading Up 1.0 %
Appian stock traded up $0.29 during mid-day trading on Tuesday, hitting $27.44. The stock had a trading volume of 47,967 shares, compared to its average volume of 540,624. The stock has a 50-day simple moving average of $30.73 and a two-hundred day simple moving average of $33.68. The stock has a market capitalization of $2.03 billion, a PE ratio of -21.80 and a beta of 1.78. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33.
Appian (NASDAQ:APPN - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS. Sell-side analysts expect that Appian Co. will post -0.28 earnings per share for the current fiscal year.
About Appian
(
Free Report)
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.
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