Raymond James Financial Inc. Acquires Shares of 51,171 Appian Co. (NASDAQ:APPN)

Raymond James Financial Inc. bought a new stake in Appian Co. (NASDAQ:APPN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 51,171 shares of the company's stock, valued at approximately $1,688,000. Raymond James Financial Inc. owned about 0.06% of Appian as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in Appian by 282.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company's stock valued at $4,584,000 after purchasing an additional 99,198 shares during the last quarter. Barclays PLC raised its holdings in shares of Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company's stock valued at $2,451,000 after buying an additional 53,172 shares during the last quarter. Holocene Advisors LP boosted its position in shares of Appian by 33.2% during the third quarter. Holocene Advisors LP now owns 75,097 shares of the company's stock worth $2,564,000 after buying an additional 18,729 shares during the period. Versor Investments LP bought a new position in Appian in the 4th quarter worth approximately $574,000. Finally, Charles Schwab Investment Management Inc. increased its position in Appian by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 348,932 shares of the company's stock valued at $11,508,000 after acquiring an additional 14,085 shares during the period. Institutional investors and hedge funds own 52.70% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have issued reports on APPN. KeyCorp reiterated a "sector weight" rating on shares of Appian in a research report on Tuesday, January 14th. Barclays upped their price objective on shares of Appian from $34.00 to $37.00 and gave the stock an "underweight" rating in a report on Friday, December 6th. Finally, Scotiabank began coverage on shares of Appian in a research report on Monday, January 6th. They set a "sector perform" rating and a $37.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Appian currently has an average rating of "Hold" and a consensus target price of $37.80.

Insider Buying and Selling at Appian

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the sale, the director now directly owns 29,348 shares of the company's stock, valued at $974,647.08. The trade was a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the sale, the insider now owns 9,942,140 shares of the company's stock, valued at $263,367,288.60. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,493 shares of company stock valued at $3,824,507. 44.00% of the stock is currently owned by corporate insiders.

Appian Trading Down 5.5 %

APPN stock traded down $1.55 on Friday, hitting $26.40. 873,823 shares of the company's stock traded hands, compared to its average volume of 544,979. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -20.95 and a beta of 1.78. Appian Co. has a 1-year low of $25.77 and a 1-year high of $43.33. The stock has a fifty day moving average of $32.07 and a 200-day moving average of $34.07.

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 company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business's revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. On average, equities research analysts anticipate that Appian Co. will post -0.28 earnings per share for the current fiscal year.

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.