SG Americas Securities LLC Takes Position in Appian Co. (NASDAQ:APPN)

SG Americas Securities LLC bought a new stake in shares of Appian Co. (NASDAQ:APPN – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 12,934 shares of the company’s stock, valued at approximately $528,000.

Several other institutional investors have also made changes to their positions in APPN. Heritage Wealth Management LLC acquired a new stake in shares of Appian during the 2nd quarter valued at about $27,000. Parkwood LLC bought a new position in Appian during the 2nd quarter valued at about $39,000. Captrust Financial Advisors lifted its holdings in Appian by 44.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock valued at $63,000 after purchasing an additional 404 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new position in Appian during the 2nd quarter valued at about $74,000. Finally, Point72 Hong Kong Ltd bought a new position in Appian during the 1st quarter valued at about $109,000. 50.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APPN has been the subject of several analyst reports. Truist Financial cut their price target on shares of Appian from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday. Sumitomo Mitsui Financial Group downgraded shares of Appian from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $37.00 to $23.00 in a research note on Monday, January 9th. Barclays dropped their target price on shares of Appian from $30.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, January 10th. Citigroup dropped their target price on shares of Appian from $55.00 to $46.00 in a research note on Friday, October 21st. Finally, The Goldman Sachs Group dropped their target price on shares of Appian from $71.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, November 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Appian currently has an average rating of “Hold” and an average target price of $43.33.

Insider Activity at Appian

In related news, General Counsel Christopher Winters sold 4,244 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $34.40, for a total transaction of $145,993.60. Following the completion of the transaction, the general counsel now owns 45,210 shares in the company, valued at $1,555,224. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Abdiel Capital Management, Llc purchased 100,000 shares of Appian stock in a transaction dated Thursday, January 19th. The stock was bought at an average price of $36.84 per share, for a total transaction of $3,684,000.00. Following the completion of the acquisition, the insider now directly owns 9,402,518 shares of the company’s stock, valued at $346,388,763.12. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Christopher Winters sold 4,244 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $34.40, for a total transaction 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 approximately $1,555,224. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 627,731 shares of company stock worth $23,493,685 and sold 7,786 shares worth $275,579. Corporate insiders own 43.50% of the company’s stock.

Appian Price Performance

Shares of NASDAQ:APPN opened at $40.67 on Tuesday. Appian Co. has a one year low of $29.80 and a one year high of $66.91. The company has a 50 day moving average of $35.74 and a 200-day moving average of $42.63. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -20.64 and a beta of 1.58.

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

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.