43,881 Shares in Appian Co. (NASDAQ:APPN) Bought by PDT Partners LLC

PDT Partners LLC bought a new position in Appian Co. (NASDAQ:APPN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 43,881 shares of the company's stock, valued at approximately $1,447,000. PDT Partners LLC owned about 0.05% of Appian as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of Appian in the fourth quarter valued at $4,918,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Appian by 184.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company's stock worth $6,637,000 after purchasing an additional 130,606 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Appian by 418.8% during the 4th quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company's stock valued at $5,303,000 after acquiring an additional 129,800 shares during the last quarter. Norges Bank purchased a new position in Appian in the 4th quarter worth approximately $4,046,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Appian in the fourth quarter worth $2,806,000. Institutional investors own 52.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Appian from $35.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. KeyCorp reiterated a "sector weight" rating on shares of Appian in a research report on Tuesday, January 14th. Barclays decreased their price target on shares of Appian from $37.00 to $28.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. DA Davidson reduced their target price on shares of Appian from $40.00 to $28.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Citigroup dropped their target price on Appian from $53.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $34.14.

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $29.52, for a total value of $1,711,422.00. Following the completion of the sale, the insider now directly owns 10,121,563 shares of the company's stock, valued at approximately $298,788,539.76. This represents a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the sale, the director now directly owns 29,348 shares of the company's stock, valued at approximately $974,647.08. This trade represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 240,510 shares of company stock valued at $6,648,635. Insiders own 44.00% of the company's stock.

Appian Stock Down 0.4 %

APPN traded down $0.13 during mid-day trading on Tuesday, reaching $30.86. 141,656 shares of the company traded hands, compared to its average volume of 543,982. The company's fifty day moving average price is $29.46 and its 200-day moving average price is $33.35. The stock has a market capitalization of $2.28 billion, a P/E ratio of -24.53 and a beta of 1.83. Appian Co. has a 52-week low of $24.00 and a 52-week high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. During the same period in the prior year, the company posted $0.06 EPS. The firm's revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Appian Co. will post -0.28 earnings per share for the current fiscal year.

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.