Stanley Laman Group Ltd. Cuts Stake in Appian Co. (NASDAQ:APPN)

Stanley Laman Group Ltd. lowered its position in shares of Appian Co. (NASDAQ:APPN - Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,875 shares of the company's stock after selling 23,354 shares during the period. Appian accounts for about 0.8% of Stanley Laman Group Ltd.'s holdings, making the stock its 24th biggest position. Stanley Laman Group Ltd. owned 0.24% of Appian worth $5,970,000 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 company. Vanguard Group Inc. lifted its position in Appian by 8.4% during the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company's stock valued at $203,008,000 after purchasing an additional 392,190 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Appian by 5.6% during the 1st quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company's stock worth $70,169,000 after acquiring an additional 93,251 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Appian by 70.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company's stock valued at $18,922,000 after acquiring an additional 196,435 shares during the last quarter. Empyrean Capital Partners LP purchased a new stake in Appian during the second quarter valued at about $7,715,000. Finally, Edgestream Partners L.P. bought a new stake in Appian during the second quarter worth about $4,657,000. Institutional investors own 52.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APPN. Barclays decreased their price objective on Appian from $32.00 to $29.00 and set an "underweight" rating on the stock in a report on Monday, August 5th. DA Davidson restated a "neutral" rating and issued a $33.00 price objective on shares of Appian in a report on Monday, October 14th. KeyCorp lowered shares of Appian from an "overweight" rating to a "sector weight" rating in a report on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on Appian from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, August 2nd. Finally, William Blair lowered Appian from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $39.20.

Insider Transactions at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp acquired 150,000 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average cost of $37.76 per share, with a total value of $5,664,000.00. Following the transaction, the insider now owns 7,805,847 shares of the company's stock, valued at $294,748,782.72. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 1,376,776 shares of company stock valued at $43,560,901 in the last ninety days. 44.00% of the stock is currently owned by corporate insiders.

Appian Trading Down 1.2 %

Shares of APPN stock traded down $0.37 during trading hours on Wednesday, reaching $30.70. The company's stock had a trading volume of 228,864 shares, compared to its average volume of 548,191. The stock has a market capitalization of $2.22 billion, a P/E ratio of -20.88 and a beta of 1.57. The firm's fifty day simple moving average is $32.14 and its 200 day simple moving average is $32.29. Appian Co. has a one year low of $26.28 and a one year high of $42.99.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.05. The company had revenue of $146.50 million for the quarter, compared to analysts' expectations of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. The firm's revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.55) earnings per share. As a group, equities research analysts forecast that Appian Co. will post -1.07 earnings per share for the current fiscal year.

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.