Walleye Capital LLC Buys 2,809 Shares of Appian Corporation $APPN

Walleye Capital LLC boosted its holdings in shares of Appian Corporation (NASDAQ:APPN) by 40.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,809 shares of the company’s stock after acquiring an additional 2,809 shares during the period. Walleye Capital LLC’s holdings in Appian were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. lifted its holdings in Appian by 19.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 658,654 shares of the company’s stock worth $21,722,000 after acquiring an additional 106,023 shares in the last quarter. Northern Trust Corp lifted its holdings in Appian by 3.5% during the fourth quarter. Northern Trust Corp now owns 363,921 shares of the company’s stock worth $12,002,000 after acquiring an additional 12,337 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Appian by 26.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 254,912 shares of the company’s stock worth $7,344,000 after acquiring an additional 53,667 shares in the last quarter. Millennium Management LLC lifted its holdings in Appian by 28.5% during the fourth quarter. Millennium Management LLC now owns 254,706 shares of the company’s stock worth $8,400,000 after acquiring an additional 56,420 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Appian by 110.0% during the fourth quarter. Nuveen Asset Management LLC now owns 222,748 shares of the company’s stock worth $7,346,000 after acquiring an additional 116,656 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

Appian Price Performance

APPN opened at $30.77 on Thursday. The business’s 50-day moving average price is $29.42 and its two-hundred day moving average price is $30.09. Appian Corporation has a 1 year low of $24.00 and a 1 year high of $43.33. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -133.78 and a beta of 1.71.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share (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. Appian’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.26) earnings per share. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. Sell-side analysts anticipate that Appian Corporation will post -0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on APPN. Citigroup lifted their target price on Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. DA Davidson began coverage on Appian in a report on Friday, August 8th. They set a “neutral” rating and a $30.00 target price on the stock. Morgan Stanley lifted their target price on Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Zacks Research raised Appian to a “strong-buy” rating in a research note on Monday, August 11th. Finally, Barclays lifted their price target on Appian from $28.00 to $33.00 and gave the company an “underweight” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.40.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of Appian stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $31.45, for a total value of $328,652.50. Following the sale, the insider owned 7,736,491 shares of the company’s stock, valued at approximately $243,312,641.95. The trade was a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 342,670 shares of company stock valued at $10,989,419 over the last 90 days. 44.00% of the stock is currently owned by insiders.

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.