Appian Corp (APPN) CFO Mark Steven Lynch Sells 15,000 Shares

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Appian Corp (NASDAQ:APPN) CFO Mark Steven Lynch sold 15,000 shares of Appian stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $34.14, for a total value of $512,100.00. Following the sale, the chief financial officer now owns 16,950 shares of the company’s stock, valued at $578,673. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of NASDAQ:APPN traded down $0.46 during mid-day trading on Friday, reaching $34.96. 276,039 shares of the stock were exchanged, compared to its average volume of 486,046. The company has a market cap of $2.26 billion, a PE ratio of -43.70 and a beta of 1.79. Appian Corp has a one year low of $22.61 and a one year high of $43.61.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.16). The business had revenue of $59.58 million during the quarter, compared to the consensus estimate of $59.71 million. Appian had a negative return on equity of 91.41% and a negative net margin of 24.48%. Appian’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the company earned ($0.12) earnings per share. On average, research analysts anticipate that Appian Corp will post -0.83 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC boosted its position in Appian by 50.0% during the first quarter. Lindbrook Capital LLC now owns 900 shares of the company’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. IFP Advisors Inc boosted its position in Appian by 29.6% during the fourth quarter. IFP Advisors Inc now owns 1,451 shares of the company’s stock valued at $40,000 after purchasing an additional 331 shares during the last quarter. Great West Life Assurance Co. Can acquired a new position in Appian during the fourth quarter valued at approximately $38,000. Flagship Harbor Advisors LLC acquired a new position in Appian during the first quarter valued at approximately $85,000. Finally, Advisor Group Inc. boosted its position in Appian by 12.2% during the fourth quarter. Advisor Group Inc. now owns 2,759 shares of the company’s stock valued at $74,000 after purchasing an additional 300 shares during the last quarter. 26.70% of the stock is owned by hedge funds and other institutional investors.

APPN has been the topic of several recent analyst reports. BidaskClub raised Appian from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 30th. Goldman Sachs Group assumed coverage on Appian in a report on Friday, February 1st. They issued a “sell” rating and a $26.00 price objective for the company. Canaccord Genuity upped their price objective on Appian from $27.00 to $33.00 and gave the company a “hold” rating in a report on Friday, February 22nd. SunTrust Banks upped their price objective on Appian to $32.00 and gave the company a “hold” rating in a report on Monday, February 25th. Finally, Zacks Investment Research upgraded Appian from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, February 26th. Three analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $32.44.

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Appian Company Profile

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

See Also: Reverse Stock Split

Insider Buying and Selling by Quarter for Appian (NASDAQ:APPN)

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