Appian Co. (NASDAQ:APPN) Shares Sold by Evanson Asset Management LLC

Evanson Asset Management LLC trimmed its holdings in shares of Appian Co. (NASDAQ:APPN) by 28.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,286 shares of the company’s stock after selling 8,334 shares during the quarter. Evanson Asset Management LLC’s holdings in Appian were worth $802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lord Abbett & CO. LLC acquired a new position in Appian in the 3rd quarter valued at about $14,884,000. Norges Bank acquired a new position in Appian in the 4th quarter valued at about $9,108,000. Renaissance Technologies LLC acquired a new position in Appian in the 1st quarter valued at about $13,983,000. BlackRock Inc. grew its position in Appian by 7.7% in the 2nd quarter. BlackRock Inc. now owns 2,933,839 shares of the company’s stock valued at $139,651,000 after acquiring an additional 208,857 shares in the last quarter. Finally, Hawk Ridge Capital Management LP grew its position in Appian by 10.3% in the 3rd quarter. Hawk Ridge Capital Management LP now owns 1,623,647 shares of the company’s stock valued at $74,055,000 after acquiring an additional 151,734 shares in the last quarter. 52.70% of the stock is owned by institutional investors and hedge funds.

Appian Stock Performance

NASDAQ APPN opened at $39.95 on Friday. The business’s 50-day moving average price is $34.80 and its 200 day moving average price is $37.76. Appian Co. has a twelve month low of $30.87 and a twelve month high of $54.26. The company has a market capitalization of $2.93 billion, a PE ratio of -26.11 and a beta of 1.44. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.33. The company had revenue of $145.32 million during the quarter, compared to analyst estimates of $140.41 million. Appian had a negative return on equity of 127.40% and a negative net margin of 20.43%. On average, research analysts predict that Appian Co. will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 248,000 shares of the company’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $33.40, for a total transaction of $8,283,200.00. Following the completion of the sale, the insider now directly owns 6,290,304 shares in the company, valued at $210,096,153.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 692,014 shares of company stock worth $22,824,338 over the last three months. 43.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup lifted their target price on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Barclays decreased their target price on Appian from $40.00 to $35.00 and set an “underweight” rating for the company in a research note on Friday, January 12th. William Blair reiterated an “outperform” rating on shares of Appian in a research note on Wednesday, March 20th. DA Davidson dropped their target price on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, KeyCorp boosted their target price on Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.71.

Appian Profile

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.