Appian Co. (NASDAQ:APPN) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its position in Appian Co. (NASDAQ:APPN - Free Report) by 12.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 126,049 shares of the company's stock after selling 17,112 shares during the quarter. King Luther Capital Management Corp owned about 0.15% of Appian worth $4,157,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of APPN. GSA Capital Partners LLP increased its stake in Appian by 354.7% in the 3rd quarter. GSA Capital Partners LLP now owns 57,630 shares of the company's stock valued at $1,967,000 after buying an additional 44,957 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Appian in the 3rd quarter valued at $266,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Appian by 88.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company's stock valued at $2,412,000 after buying an additional 33,232 shares during the period. Intech Investment Management LLC acquired a new position in Appian in the 3rd quarter valued at $393,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Appian by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company's stock valued at $11,432,000 after buying an additional 3,817 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APPN has been the topic of several research analyst reports. KeyCorp restated a "sector weight" rating on shares of Appian in a research report on Tuesday, January 14th. 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. Finally, Scotiabank initiated coverage on shares of Appian in a research report on Monday, January 6th. They set a "sector perform" rating and a $37.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $40.17.

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Appian Stock Up 4.0 %

Shares of Appian stock traded up $1.15 on Friday, hitting $30.18. The company's stock had a trading volume of 768,382 shares, compared to its average volume of 530,377. Appian Co. has a 52-week low of $26.28 and a 52-week high of $43.33. The firm has a fifty day moving average price of $33.25 and a 200-day moving average price of $34.28. The company has a market capitalization of $2.23 billion, a P/E ratio of -23.95 and a beta of 1.65.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings data 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 return on equity of 532.05% and a negative net margin of 14.95%. The business had revenue of $166.70 million during the quarter, compared to analysts' expectations of $164.31 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Appian's quarterly revenue was up 14.7% on a year-over-year basis. As a group, analysts expect that Appian Co. will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 44.00% of the company's stock.

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.