Appian Corporation (NASDAQ:APPN) Shares Acquired by US Bancorp DE

US Bancorp DE increased its position in shares of Appian Corporation (NASDAQ:APPN) by 215.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,506 shares of the company’s stock after purchasing an additional 4,443 shares during the quarter. US Bancorp DE’s holdings in Appian were worth $187,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new stake in shares of Appian in the 4th quarter valued at $35,000. Concord Wealth Partners raised its holdings in shares of Appian by 21.7% in the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after buying an additional 461 shares during the period. Canada Pension Plan Investment Board increased its holdings in Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares during the period. Russell Investments Group Ltd. increased its holdings in Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after purchasing an additional 3,498 shares during the period. Finally, CWM LLC increased its holdings in Appian by 685.9% during the 1st quarter. CWM LLC now owns 7,788 shares of the company’s stock worth $224,000 after purchasing an additional 6,797 shares during the period. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $31.47, for a total value of $9,441,000.00. Following the transaction, the insider owned 8,767,828 shares of the company’s stock, valued at $275,923,547.16. This represents a 3.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 1,613,910 shares of company stock valued at $51,423,651. 43.00% of the stock is currently owned by company insiders.

Appian Price Performance

Shares of NASDAQ:APPN opened at $29.63 on Friday. Appian Corporation has a fifty-two week low of $24.00 and a fifty-two week high of $43.33. The business has a 50-day moving average of $29.42 and a two-hundred day moving average of $30.47. The stock has a market capitalization of $2.19 billion, a P/E ratio of -128.82 and a beta of 1.75.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The business had revenue of $170.64 million during the quarter, compared to analysts’ expectations of $160.01 million. During the same period last year, the business posted ($0.26) earnings per share. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, research analysts expect that Appian Corporation will post -0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays increased their price objective on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research report on Friday, May 9th. Citigroup increased their price objective on Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Morgan Stanley raised their price target on Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Zacks Research raised Appian to a “strong-buy” rating in a report on Monday, August 11th. Finally, Scotiabank reduced their price target on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.40.

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.