Advisory Services Network LLC Decreases Stock Holdings in Appian Co. (NASDAQ:APPN)

Advisory Services Network LLC trimmed its position in shares of Appian Co. (NASDAQ:APPNGet Rating) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,057 shares of the company’s stock after selling 479 shares during the quarter. Advisory Services Network LLC’s holdings in Appian were worth $1,646,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in shares of Appian by 150.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 500 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Appian by 13.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company’s stock valued at $153,000 after acquiring an additional 305 shares in the last quarter. San Luis Wealth Advisors LLC acquired a new position in Appian in the 1st quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in Appian in the 4th quarter worth approximately $28,000. Finally, US Bancorp DE increased its holdings in Appian by 8.1% in the 1st quarter. US Bancorp DE now owns 5,838 shares of the company’s stock worth $355,000 after buying an additional 439 shares during the period. 51.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APPN has been the topic of several research reports. KeyCorp initiated coverage on shares of Appian in a report on Monday, September 12th. They issued an “overweight” rating and a $60.00 price target on the stock. Citigroup assumed coverage on shares of Appian in a research note on Thursday, September 1st. They set a “neutral” rating and a $55.00 price objective on the stock. Finally, Berenberg Bank assumed coverage on shares of Appian in a research note on Friday, June 10th. They set a “buy” rating and a $63.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.13.

Appian Price Performance

Shares of NASDAQ:APPN opened at $47.44 on Monday. Appian Co. has a 1 year low of $38.78 and a 1 year high of $107.50. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -27.58 and a beta of 1.61. The business’s 50 day moving average price is $49.24 and its 200-day moving average price is $51.05.

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

Insider Transactions at Appian

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

Appian Profile

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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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Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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