11,909 Shares in Appian Co. (NASDAQ:APPN) Bought by XTX Topco Ltd

XTX Topco Ltd bought a new stake in Appian Co. (NASDAQ:APPN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,909 shares of the company's stock, valued at approximately $393,000.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 last quarter. Geode Capital Management LLC raised its stake in shares of Appian by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock valued at $32,071,000 after acquiring an additional 14,710 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Appian by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 348,932 shares of the company's stock valued at $11,508,000 after acquiring an additional 14,085 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Appian by 184.9% during 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. Finally, Trexquant Investment LP grew its stake in shares of Appian by 10.8% in the fourth quarter. Trexquant Investment LP now owns 166,303 shares of the company's stock worth $5,485,000 after purchasing an additional 16,164 shares during the last quarter. 52.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction that occurred 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 transaction, the director now owns 29,348 shares of the company's stock, valued at $974,647.08. The trade was a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the company's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $26.49, for a total value of $2,080,206.72. Following the sale, the insider now owns 9,942,140 shares of the company's stock, valued at $263,367,288.60. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,510 shares of company stock worth $6,648,635 in the last ninety days. Corporate insiders own 44.00% of the company's stock.

Appian Trading Up 3.5 %

NASDAQ:APPN opened at $26.74 on Wednesday. The firm has a fifty day simple moving average of $29.90 and a two-hundred day simple moving average of $33.39. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -21.22 and a beta of 1.78.

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

Analyst Upgrades and Downgrades

APPN has been the subject of several analyst reports. Citigroup lowered their target price on Appian from $53.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday. DA Davidson cut their price objective on Appian from $40.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Morgan Stanley decreased their target price 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. KeyCorp reaffirmed a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. Finally, Scotiabank began coverage on shares of Appian in a research report on Monday, January 6th. They set a "sector perform" rating and a $37.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $34.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.