Appian Co. (NASDAQ:APPN) Director Sells $32,877.90 in Stock

Appian Co. (NASDAQ:APPN - Get Free Report) Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Appian Stock Performance

NASDAQ APPN traded down $0.19 on Thursday, hitting $32.82. The stock had a trading volume of 115,035 shares, compared to its average volume of 472,754. Appian Co. has a 52-week low of $26.28 and a 52-week high of $43.33. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -26.11 and a beta of 1.64. The firm has a 50-day moving average of $33.92 and a 200-day moving average of $34.25.

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

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Hedge Funds Weigh In On Appian

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Appian in the 3rd quarter worth about $29,000. Point72 Hong Kong Ltd purchased a new position in shares of Appian in the fourth quarter worth $35,000. Canada Pension Plan Investment Board lifted its holdings in shares of Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after buying an additional 500 shares in the last quarter. Russell Investments Group Ltd. increased its position in Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after acquiring an additional 3,498 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Appian during the fourth quarter valued at $181,000. Institutional investors own 52.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APPN. Scotiabank initiated coverage on shares of Appian in a research note on Monday, January 6th. They issued a "sector perform" rating and a $37.00 target price on the stock. Barclays lifted their price objective on shares of Appian from $34.00 to $37.00 and gave the stock an "underweight" rating in a research report on Friday, December 6th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Appian presently has a consensus rating of "Hold" and a consensus price target of $40.17.

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.