Schonfeld Strategic Advisors LLC Buys New Shares in Appian Co. (NASDAQ:APPN)

Schonfeld Strategic Advisors LLC acquired a new position in shares of Appian Co. (NASDAQ:APPN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,700 shares of the company's stock, valued at approximately $320,000.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Appian by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company's stock valued at $165,839,000 after buying an additional 23,890 shares during the period. Lead Edge Capital Management LLC increased its stake in shares of Appian by 5.7% during the fourth quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company's stock worth $50,396,000 after acquiring an additional 83,000 shares during the period. First Trust Advisors LP increased its stake in shares of Appian by 7.1% during the fourth quarter. First Trust Advisors LP now owns 1,263,405 shares of the company's stock worth $41,667,000 after acquiring an additional 83,708 shares during the period. Geode Capital Management LLC raised its holdings in Appian by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock worth $32,071,000 after purchasing an additional 14,710 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Appian by 3.5% in the fourth quarter. Northern Trust Corp now owns 363,921 shares of the company's stock valued at $12,002,000 after purchasing an additional 12,337 shares during the period. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Citigroup boosted their target price on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Tuesday. DA Davidson upped their price objective on Appian from $28.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Barclays increased their price objective on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. Scotiabank decreased their target price on shares of Appian from $37.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley upped their price target on shares of Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $36.29.

Appian Price Performance

APPN traded down $0.59 during trading on Friday, reaching $32.54. 727,630 shares of the stock were exchanged, compared to its average volume of 557,250. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -25.83 and a beta of 1.83. Appian Co. has a 1 year low of $24.00 and a 1 year high of $43.33. The business's 50 day moving average price is $29.51 and its two-hundred day moving average price is $33.34.

Appian (NASDAQ:APPN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.10. The firm had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. Appian's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) EPS. On average, analysts anticipate that Appian Co. will post -0.28 EPS for the current year.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the completion of the sale, the insider now directly owns 9,942,140 shares in the company, valued at $263,367,288.60. The trade was a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Albert G.W. Biddle III sold 990 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the transaction, the director now directly owns 29,348 shares of the company's stock, valued at approximately $974,647.08. This represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 380,560 shares of company stock worth $11,124,633 over the last three months. 43.00% of the stock is currently owned by corporate insiders.

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.