Baillie Gifford & Co. Reduces Holdings in Appian Co. (NASDAQ:APPN)

Baillie Gifford & Co. cut its holdings in Appian Co. (NASDAQ:APPN - Free Report) by 21.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,095,052 shares of the company's stock after selling 291,636 shares during the quarter. Baillie Gifford & Co. owned 1.28% of Appian worth $36,115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Appian by 0.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company's stock worth $2,739,000 after buying an additional 491 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Appian by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company's stock worth $740,000 after buying an additional 686 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Appian during the third quarter worth $29,000. Creative Planning boosted its stake in Appian by 22.3% during the third quarter. Creative Planning now owns 8,197 shares of the company's stock worth $280,000 after buying an additional 1,493 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its stake in Appian by 9.7% during the third quarter. Chicago Partners Investment Group LLC now owns 26,314 shares of the company's stock worth $898,000 after buying an additional 2,337 shares during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on APPN shares. 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 note on Friday, December 6th. Scotiabank initiated coverage on Appian in a research report on Monday, January 6th. They set a "sector perform" rating and a $37.00 target price for the company. Finally, KeyCorp reiterated a "sector weight" rating on shares of Appian in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.17.

Appian Stock Down 3.7 %

Shares of APPN stock traded down $1.29 on Friday, hitting $33.34. The stock had a trading volume of 729,414 shares, compared to its average volume of 469,286. The business has a 50 day moving average price of $34.20 and a 200 day moving average price of $34.06. The company has a market cap of $2.85 billion, a PE ratio of -26.46 and a beta of 1.64. Appian Co. has a one year low of $26.28 and a one year high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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 revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Equities research analysts expect that Appian Co. will post -0.31 EPS for the current year.

Insider Activity at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the transaction, the director now directly owns 7,966 shares in the company, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 44.00% of the stock is currently owned by corporate insiders.

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.