Marshall Wace LLP Buys Shares of 61,060 Appian Co. (NASDAQ:APPN)

Marshall Wace LLP purchased a new position in shares of Appian Co. (NASDAQ:APPN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 61,060 shares of the company's stock, valued at approximately $2,014,000. Marshall Wace LLP owned 0.07% of Appian as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of APPN. Vanguard Group Inc. boosted its holdings in Appian by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company's stock valued at $165,839,000 after acquiring an additional 23,890 shares during the period. Geode Capital Management LLC boosted its stake in shares of Appian by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock valued at $32,071,000 after purchasing an additional 14,710 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Appian by 4.2% during 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 during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Appian by 184.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company's stock worth $6,637,000 after buying an additional 130,606 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in Appian by 10.8% in the 4th quarter. Trexquant Investment LP now owns 166,303 shares of the company's stock valued at $5,485,000 after buying an additional 16,164 shares during the period. 52.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Appian

In related 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 sale, the director now owns 29,348 shares in the company, valued at $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 available through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the transaction, the insider now directly owns 9,942,140 shares in the company, valued at $263,367,288.60. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 240,510 shares of company stock worth $6,648,635. 44.00% of the stock is owned by insiders.

Appian Trading Up 2.1 %

Shares of Appian stock opened at $31.32 on Monday. The company has a fifty day simple moving average of $29.82 and a 200-day simple moving average of $33.35. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -24.86 and a beta of 1.78. Appian Co. has a 12-month low of $24.00 and a 12-month high of $43.33.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share (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 firm had revenue of $166.70 million for the quarter, compared to analysts' expectations of $164.31 million. During the same period in the previous year, the business posted $0.06 EPS. The business's revenue for the quarter was up 14.7% compared to the same quarter last year. On average, analysts forecast that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APPN has been the topic of a number of recent research reports. Barclays cut their price objective on Appian from $37.00 to $28.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Citigroup decreased their price objective on Appian from $53.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. DA Davidson cut their target price on shares of Appian from $40.00 to $28.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. KeyCorp reiterated a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. Finally, Morgan Stanley dropped their price objective on shares of Appian from $35.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $34.14.

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.

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