Strs Ohio Sells 4,000 Shares of Appian Co. (NASDAQ:APPN)

Strs Ohio decreased its position in Appian Co. (NASDAQ:APPN – Get Rating) by 75.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,300 shares of the company’s stock after selling 4,000 shares during the quarter. Strs Ohio’s holdings in Appian were worth $53,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Woodline Partners LP acquired a new position in shares of Appian during the 2nd quarter worth approximately $5,860,000. Chicago Partners Investment Group LLC increased its holdings in shares of Appian by 3.9% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 41,631 shares of the company’s stock worth $2,020,000 after acquiring an additional 1,546 shares during the last quarter. Total Clarity Wealth Management Inc. acquired a new position in shares of Appian during the 2nd quarter worth approximately $74,000. Evanson Asset Management LLC acquired a new position in shares of Appian during the 3rd quarter worth approximately $1,046,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Appian during the 2nd quarter worth approximately $2,234,000. Institutional investors own 50.89% of the company’s stock.

Appian Stock Performance

APPN opened at $38.61 on Monday. The firm has a market cap of $2.80 billion, a P/E ratio of -19.60 and a beta of 1.58. Appian Co. has a 52-week low of $29.80 and a 52-week high of $66.91. The business’s fifty day moving average is $35.71 and its 200-day moving average is $42.73.

Appian (NASDAQ:APPN – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.27). Appian had a negative return on equity of 53.25% and a negative net margin of 31.83%. The company had revenue of $117.88 million for the quarter, compared to analyst estimates of $116.11 million. During the same period last year, the company posted ($0.29) earnings per share. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, research analysts predict that Appian Co. will post -1.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on APPN shares. Citigroup decreased their target price on Appian from $55.00 to $46.00 in a report on Friday, October 21st. The Goldman Sachs Group decreased their price objective on Appian from $71.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 7th. Morgan Stanley decreased their price objective on Appian from $54.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, November 4th. Barclays decreased their price objective on Appian from $30.00 to $25.00 and set an “underweight” rating on the stock in a report on Tuesday, January 10th. Finally, Sumitomo Mitsui Financial Group lowered Appian from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $37.00 to $23.00 in a report on Monday, January 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Appian presently has an average rating of “Hold” and an average target price of $43.33.

Insider Buying and Selling

In related news, insider Robert Charles Kramer sold 3,145 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $36.85, for a total transaction of $115,893.25. Following the completion of the sale, the insider now directly owns 161,382 shares in the company, valued at approximately $5,946,926.70. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Robert Charles Kramer sold 3,145 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $36.85, for a total transaction of $115,893.25. Following the completion of the sale, the insider now directly owns 161,382 shares in the company, valued at approximately $5,946,926.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Christopher Winters sold 4,244 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $34.40, for a total value of $145,993.60. Following the completion of the transaction, the general counsel now owns 45,210 shares of the company’s stock, valued at $1,555,224. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 627,731 shares of company stock worth $23,493,685 and sold 7,786 shares worth $275,579. 43.50% of the stock is owned by corporate insiders.

About Appian

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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.