US Bancorp DE Sells 1,784 Shares of Appian Co. (NASDAQ:APPN)

US Bancorp DE lessened its holdings in Appian Co. (NASDAQ:APPN) by 46.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,063 shares of the company’s stock after selling 1,784 shares during the period. US Bancorp DE’s holdings in Appian were worth $68,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Abdiel Capital Advisors LP grew its holdings in shares of Appian by 72.6% during the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock valued at $347,179,000 after purchasing an additional 4,278,969 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Appian by 0.6% during the third quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock worth $32,695,000 after buying an additional 5,772 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Appian by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company’s stock worth $11,432,000 after buying an additional 3,817 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Appian by 41.4% during the 3rd quarter. King Luther Capital Management Corp now owns 143,161 shares of the company’s stock valued at $4,888,000 after acquiring an additional 41,922 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Appian by 282.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock worth $4,584,000 after acquiring an additional 99,198 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Stock Performance

NASDAQ:APPN opened at $29.80 on Tuesday. The company has a market capitalization of $2.21 billion, a PE ratio of -23.65 and a beta of 1.65. Appian Co. has a fifty-two week low of $26.28 and a fifty-two week high of $43.33. The company has a 50 day simple moving average of $33.15 and a two-hundred day simple moving average of $34.28.

Appian (NASDAQ:APPN) last announced its earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. Appian’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. Research analysts predict that Appian Co. will post -0.28 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on APPN. Barclays lifted their price target on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. KeyCorp restated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Finally, Scotiabank initiated coverage on shares of Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.17.

Insider Activity

In other news, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction on Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the sale, the director now owns 29,348 shares in the company, valued at $974,647.08. The trade was a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 44.00% of the stock is owned by company insiders.

About Appian

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.