Insider Selling: Appian Co. (NASDAQ:APPN) Director Sells $32,877.90 in Stock

Appian Co. (NASDAQ:APPN) Director Albert G.W. Biddle III sold 990 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the sale, the director now owns 29,348 shares of the company’s stock, valued at approximately $974,647.08. This represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Appian Stock Down 1.1 %

APPN opened at $33.01 on Thursday. The firm’s 50-day moving average price is $33.92 and its 200-day moving average price is $34.25. The company has a market cap of $2.82 billion, a P/E ratio of -26.20 and a beta of 1.64. Appian Co. has a 52-week low of $26.28 and a 52-week high of $43.33.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The company had revenue of $166.70 million for the quarter, compared to analyst estimates of $164.31 million. During the same quarter in the previous year, the company posted $0.06 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, research analysts anticipate that Appian Co. will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Appian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Appian by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,836 shares of the company’s stock valued at $2,897,000 after purchasing an additional 7,594 shares during the last quarter. Voloridge Investment Management LLC boosted its position in Appian by 222.6% in the fourth quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company’s stock valued at $6,034,000 after buying an additional 126,256 shares during the last quarter. Squarepoint Ops LLC boosted its position in Appian by 60.5% in the fourth quarter. Squarepoint Ops LLC now owns 25,546 shares of the company’s stock valued at $843,000 after buying an additional 9,630 shares during the last quarter. Twinbeech Capital LP acquired a new position in Appian in the 4th quarter worth approximately $2,403,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in Appian during the 4th quarter worth approximately $320,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

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

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.