Charles Schwab Investment Management Inc. Buys 14,085 Shares of Appian Co. (NASDAQ:APPN)

Charles Schwab Investment Management Inc. grew its holdings in Appian Co. (NASDAQ:APPN - Free Report) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,932 shares of the company's stock after purchasing an additional 14,085 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.41% of Appian worth $11,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Appian by 199.4% in the 3rd quarter. FMR LLC now owns 5,935 shares of the company's stock valued at $203,000 after acquiring an additional 3,953 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Appian during the 4th quarter worth about $208,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Appian in the 3rd quarter valued at about $266,000. Arete Wealth Advisors LLC bought a new stake in Appian in the 3rd quarter valued at about $291,000. Finally, Handelsbanken Fonder AB raised its stake in Appian by 14.7% during 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 during the period. Institutional investors own 52.70% of the company's stock.

Appian Stock Up 0.9 %

APPN stock traded up $0.29 during trading on Tuesday, reaching $31.96. The stock had a trading volume of 389,095 shares, compared to its average volume of 527,838. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The company's 50 day moving average is $32.75 and its two-hundred day moving average is $34.23. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -25.37 and a beta of 1.65.

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Appian (NASDAQ:APPN - Get Free Report) last issued 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). The business had revenue of $166.70 million for the quarter, compared to analysts' expectations 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 revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 earnings per share. As a group, research analysts predict that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Appian

In other news, Director Albert G.W. Biddle III sold 990 shares of the firm's stock in a transaction that occurred 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 trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 44.00% of the company's stock.

Analyst Upgrades and Downgrades

APPN has been the subject of several recent research reports. KeyCorp restated a "sector weight" rating on shares of Appian in a report on Tuesday, January 14th. Scotiabank assumed coverage on shares of Appian in a report on Monday, January 6th. They set a "sector perform" rating and a $37.00 price objective on the stock. Finally, Barclays boosted their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.80.

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.