AlphaQuest LLC Grows Holdings in Appian Co. (NASDAQ:APPN)

AlphaQuest LLC grew its stake in Appian Co. (NASDAQ:APPN - Free Report) by 147,358.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,695 shares of the company's stock after buying an additional 17,683 shares during the period. AlphaQuest LLC's holdings in Appian were worth $584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Appian in the 4th quarter worth approximately $1,688,000. Charles Schwab Investment Management Inc. grew its stake in Appian by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 348,932 shares of the company's stock worth $11,508,000 after buying an additional 14,085 shares in the last quarter. Versor Investments LP purchased a new position in Appian in the 4th quarter worth approximately $574,000. Oppenheimer & Co. Inc. grew its stake in Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company's stock worth $270,000 after buying an additional 400 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Appian by 14.7% in the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company's stock worth $284,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Appian Stock Down 1.5 %

NASDAQ:APPN opened at $30.13 on Wednesday. The company has a fifty day moving average of $33.45 and a 200 day moving average of $34.34. Appian Co. has a 52 week low of $26.28 and a 52 week high of $43.33. The firm has a market capitalization of $2.23 billion, a P/E ratio of -23.91 and a beta of 1.65.

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Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly 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). Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. The company'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 EPS for the current year.

Insider Activity at Appian

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the transaction, the director now directly owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 44.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Appian 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.

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