Shares of Appian Co. (NASDAQ:APPN – Get Free Report) were down 3.1% on Tuesday . The company traded as low as $44.96 and last traded at $44.96. Approximately 19,400 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 324,355 shares. The stock had previously closed at $46.39.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on APPN shares. Barclays increased their target price on Appian from $35.00 to $41.00 and gave the stock an “underweight” rating in a research note on Friday, August 4th. KeyCorp raised their price target on Appian from $50.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, July 21st. The Goldman Sachs Group raised their price target on Appian from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Citigroup raised their price target on Appian from $40.00 to $57.00 in a research note on Wednesday, June 21st. Finally, Morgan Stanley raised their price target on Appian from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.67.
Appian Stock Down 3.0 %
Appian (NASDAQ:APPN – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.02. Appian had a negative return on equity of 112.32% and a negative net margin of 31.11%. The business had revenue of $127.72 million for the quarter, compared to analyst estimates of $123.94 million. On average, sell-side analysts anticipate that Appian Co. will post -1.73 EPS for the current year.
Insider Activity at Appian
In related news, CFO Mark Matheos sold 13,068 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $50.15, for a total value of $655,360.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Appian news, CFO Mark Matheos sold 13,068 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $50.15, for a total value of $655,360.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Christopher Winters sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $50.23, for a total value of $1,506,900.00. Following the transaction, the general counsel now directly owns 15,210 shares of the company’s stock, valued at $763,998.30. The disclosure for this sale can be found here. Insiders have sold a total of 47,568 shares of company stock worth $2,387,755 over the last quarter. Insiders own 43.60% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Heritage Wealth Management LLC grew its holdings in Appian by 86.6% in the 4th quarter. Heritage Wealth Management LLC now owns 782 shares of the company’s stock valued at $25,000 after buying an additional 363 shares in the last quarter. Quarry LP purchased a new position in shares of Appian during the 1st quarter worth $27,000. Nisa Investment Advisors LLC grew its holdings in shares of Appian by 850.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 760 shares of the company’s stock worth $34,000 after purchasing an additional 680 shares during the period. Captrust Financial Advisors grew its holdings in shares of Appian by 44.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock worth $63,000 after purchasing an additional 404 shares during the period. Finally, FMR LLC grew its holdings in shares of Appian by 34.8% during the 1st quarter. FMR LLC now owns 1,902 shares of the company’s stock worth $84,000 after purchasing an additional 491 shares during the period. 41.15% of the stock is owned by institutional investors and hedge funds.
Appian Company Profile
Appian Corporation provides low-code process automation platform in the United States and internationally. The company's platform offers workflow, artificial intelligence, robotic process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize end-to-end processes and complex business operations.
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