Insider Selling: Appian Co. (NASDAQ:APPN) Director Sells 990 Shares of Stock

Appian Co. (NASDAQ:APPN) Director Albert G.W. Biddle III sold 990 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 29,348 shares of the company’s stock, valued at approximately $974,647.08. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Appian Trading Down 1.1 %

NASDAQ:APPN opened at $33.01 on Thursday. The stock has a 50 day moving average of $33.92 and a two-hundred day moving average of $34.25. Appian Co. has a 12 month low of $26.28 and a 12 month high of $43.33. The firm has a market cap of $2.82 billion, a P/E ratio of -26.20 and a beta of 1.64.

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 return on equity of 532.05% and a negative net margin of 14.95%. The firm had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. On average, research analysts forecast that Appian Co. will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Appian

A number of hedge funds have recently modified their holdings of APPN. Creative Planning boosted its position in Appian by 22.3% during the third quarter. Creative Planning now owns 8,197 shares of the company’s stock worth $280,000 after acquiring an additional 1,493 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Appian in the 3rd quarter worth approximately $29,000. Chicago Partners Investment Group LLC lifted its stake in Appian by 9.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 26,314 shares of the company’s stock worth $898,000 after purchasing an additional 2,337 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Appian by 354.7% during the 3rd quarter. GSA Capital Partners LLP now owns 57,630 shares of the company’s stock worth $1,967,000 after purchasing an additional 44,957 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Appian in the third quarter valued at approximately $266,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Appian Company 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.