Strs Ohio bought a new position in shares of Appian Co. (NASDAQ:APPN) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,000 shares of the company’s stock, valued at approximately $64,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC acquired a new stake in Appian during the third quarter worth about $25,000. Macquarie Group Ltd. acquired a new stake in Appian during the second quarter valued at approximately $33,000. Freestone Capital Holdings LLC acquired a new stake in Appian during the third quarter valued at approximately $42,000. Clearstead Advisors LLC acquired a new stake in Appian during the third quarter valued at approximately $43,000. Finally, Point72 Hong Kong Ltd boosted its holdings in Appian by 277.2% during the third quarter. Point72 Hong Kong Ltd now owns 713 shares of the company’s stock valued at $46,000 after purchasing an additional 524 shares in the last quarter. 38.58% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. Truist lifted their price objective on Appian from $52.00 to $95.00 in a report on Monday, November 9th. BidaskClub upgraded shares of Appian from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 29th. Morgan Stanley lifted their target price on shares of Appian from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Friday, November 6th. ValuEngine cut shares of Appian from a “buy” rating to a “hold” rating in a research note on Tuesday, December 1st. Finally, Barclays cut shares of Appian from an “equal weight” rating to an “underweight” rating and set a $76.00 target price for the company. in a research note on Tuesday, December 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $64.10.
Appian (NASDAQ:APPN) last issued its earnings results on Thursday, November 5th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.12. Appian had a negative net margin of 13.00% and a negative return on equity of 15.16%. The company had revenue of $77.30 million during the quarter, compared to analysts’ expectations of $70.86 million. During the same quarter in the previous year, the company posted ($0.18) EPS. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. On average, research analysts forecast that Appian Co. will post -0.6 earnings per share for the current fiscal year.
In related news, Director Michael G. Devine sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $69.01, for a total value of $690,100.00. Following the completion of the transaction, the director now directly owns 19,653 shares of the company’s stock, valued at approximately $1,356,253.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Abdiel Capital Management, Llc sold 172,366 shares of the company’s stock in a transaction on Tuesday, December 1st. The stock was sold at an average price of $140.85, for a total transaction of $24,277,751.10. The disclosure for this sale can be found here. Insiders sold a total of 462,697 shares of company stock valued at $58,274,461 in the last three months. 46.80% of the stock is owned by company insiders.
Appian Corporation provides low-code automation platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded.
Recommended Story: Certificate of Deposit (CD) For Risk Adverse Investors?
Want to see what other hedge funds are holding APPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Appian Co. (NASDAQ:APPN).
Receive News & Ratings for Appian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian and related companies with MarketBeat.com's FREE daily email newsletter.