Susquehanna Fundamental Investments LLC Makes New Investment in Appian Co. (NASDAQ:APPN)

Susquehanna Fundamental Investments LLC acquired a new position in Appian Co. (NASDAQ:APPN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 85,093 shares of the company's stock, valued at approximately $2,806,000. Susquehanna Fundamental Investments LLC owned about 0.10% of Appian at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its holdings in shares of Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after acquiring an additional 500 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Appian by 1,244.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after buying an additional 3,498 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Appian in the fourth quarter worth about $181,000. Entropy Technologies LP bought a new stake in shares of Appian during the fourth quarter valued at approximately $208,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Appian in the 4th quarter valued at $249,000. Institutional investors and hedge funds own 52.70% of the company's stock.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $27.02, for a total transaction of $137,883.06. Following the sale, the insider now owns 9,755,116 shares of the company's stock, valued at $263,583,234.32. This trade represents a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 240,510 shares of company stock worth $6,648,635. 44.00% of the stock is currently owned by company insiders.

Appian Price Performance

APPN stock traded up $0.10 during midday trading on Monday, reaching $31.37. 70,665 shares of the company were exchanged, compared to its average volume of 544,097. The business has a 50-day moving average price of $29.50 and a two-hundred day moving average price of $33.35. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -24.90 and a beta of 1.83. Appian Co. has a one year low of $24.00 and a one year 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 return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.70 million for the quarter, compared to analyst estimates of $164.31 million. During the same period in the prior year, the business posted $0.06 EPS. The firm's quarterly revenue was up 14.7% compared to the same quarter last year. As a group, analysts anticipate that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Appian from $35.00 to $27.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Barclays reduced their target price on Appian from $37.00 to $28.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. Citigroup lowered their price objective on shares of Appian from $53.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Scotiabank reduced their price objective on Appian from $37.00 to $34.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. Finally, KeyCorp restated a "sector weight" rating on shares of Appian in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Appian currently has a consensus rating of "Hold" and an average price target of $34.14.

Appian Company 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.