Appian (NASDAQ:APPN) Trading Down 8.7%

Appian Co. (NASDAQ:APPN) traded down 8.7% on Thursday . The stock traded as low as $32.93 and last traded at $33.74. 197,599 shares were traded during trading, a decline of 64% from the average session volume of 543,263 shares. The stock had previously closed at $36.94.

Analyst Ratings Changes

APPN has been the subject of several recent research reports. Barclays decreased their price objective on Appian from $36.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, May 3rd. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a report on Thursday. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday. DA Davidson lowered Appian from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.00.

Appian Stock Performance

The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.68. The firm has a fifty day simple moving average of $31.20 and a 200-day simple moving average of $33.72.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.05. The company had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. Appian had a negative return on equity of 234.57% and a negative net margin of 18.80%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.55) earnings per share. Analysts predict that Appian Co. will post -1.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Albert G.W. Biddle III purchased 3,225 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the transaction, the director now directly owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Albert G.W. Biddle III acquired 3,225 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $28.02 per share, with a total value of $90,364.50. Following the purchase, the director now owns 19,689 shares of the company’s stock, valued at approximately $551,685.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp bought 475,000 shares of Appian stock in a transaction dated Friday, July 5th. The stock was purchased at an average price of $30.94 per share, with a total value of $14,696,500.00. Following the purchase, the insider now directly owns 6,365,304 shares in the company, valued at approximately $196,942,505.76. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,381,568 shares of company stock valued at $46,783,802. Insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

A number of institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in shares of Appian during the 4th quarter worth approximately $47,000. Neo Ivy Capital Management acquired a new stake in Appian in the second quarter valued at $65,000. Concord Wealth Partners purchased a new position in shares of Appian in the first quarter valued at $85,000. nVerses Capital LLC acquired a new position in shares of Appian during the 2nd quarter worth $105,000. Finally, Quest Partners LLC purchased a new stake in shares of Appian in the 4th quarter worth about $177,000. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

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.