Appian (NASDAQ:APPN) Shares Up 3.7%

Appian Co. (NASDAQ:APPNGet Rating)’s stock price shot up 3.7% during trading on Friday . The stock traded as high as $49.08 and last traded at $49.08. 3,512 shares changed hands during trading, a decline of 99% from the average session volume of 268,975 shares. The stock had previously closed at $47.31.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on APPN. KeyCorp began coverage on shares of Appian in a report on Monday, September 12th. They set an “overweight” rating and a $60.00 price target on the stock. Citigroup started coverage on shares of Appian in a research note on Thursday, September 1st. They issued a “neutral” rating and a $55.00 target price on the stock. Finally, Berenberg Bank started coverage on shares of Appian in a research note on Friday, June 10th. They issued a “buy” rating and a $63.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.13.

Appian Trading Up 0.3 %

The firm’s 50-day moving average price is $49.24 and its two-hundred day moving average price is $51.10. The stock has a market cap of $3.44 billion, a PE ratio of -27.58 and a beta of 1.61.

Appian (NASDAQ:APPNGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.19). Appian had a negative return on equity of 39.51% and a negative net margin of 29.34%. The business had revenue of $110.06 million during the quarter, compared to analysts’ expectations of $103.97 million. During the same period in the previous year, the company posted ($0.31) EPS. Appian’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, analysts anticipate that Appian Co. will post -1.34 earnings per share for the current year.

Insider Transactions at Appian

In other Appian news, major shareholder Abdiel Capital Management, Llc purchased 100,000 shares of the stock in a transaction dated Tuesday, June 21st. The stock was purchased at an average price of $43.98 per share, with a total value of $4,398,000.00. Following the transaction, the insider now owns 8,323,566 shares of the company’s stock, valued at $366,070,432.68. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Abdiel Capital Management, Llc bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The stock was bought at an average price of $43.98 per share, with a total value of $4,398,000.00. Following the completion of the transaction, the insider now directly owns 8,323,566 shares of the company’s stock, valued at approximately $366,070,432.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Steven Lynch sold 1,130 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $53.25, for a total transaction of $60,172.50. Following the sale, the director now directly owns 26,333 shares of the company’s stock, valued at approximately $1,402,232.25. The disclosure for this sale can be found here. Corporate insiders own 43.50% of the company’s stock.

Institutional Investors Weigh In On Appian

A number of hedge funds and other institutional investors have recently bought and sold shares of APPN. Teacher Retirement System of Texas lifted its position in Appian by 23.5% during the fourth quarter. Teacher Retirement System of Texas now owns 6,978 shares of the company’s stock valued at $455,000 after acquiring an additional 1,329 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Appian by 44.3% in the fourth quarter. Citigroup Inc. now owns 68,799 shares of the company’s stock worth $4,486,000 after buying an additional 21,106 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of Appian in the fourth quarter worth $571,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Appian by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 279,637 shares of the company’s stock worth $18,236,000 after buying an additional 5,265 shares during the last quarter. Finally, KRS Capital Management LLC purchased a new position in shares of Appian in the fourth quarter worth $159,000. Hedge funds and other institutional investors own 51.78% of the company’s stock.

About Appian

(Get Rating)

Appian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that are needed to be manually coded. The company also offers professional and customer support services.

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