Engineers Gate Manager LP bought a new position in shares of Appian Corp (NASDAQ:APPN) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 37,540 shares of the company’s stock, valued at approximately $1,243,000. Engineers Gate Manager LP owned 0.06% of Appian as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp increased its stake in Appian by 66.2% during the 1st quarter. Northern Trust Corp now owns 38,595 shares of the company’s stock worth $972,000 after buying an additional 15,371 shares during the period. Oakcliff Capital Partners LP purchased a new stake in Appian during the 2nd quarter worth approximately $8,434,000. Engle Capital Management L.P. increased its stake in Appian by 9.1% during the 2nd quarter. Engle Capital Management L.P. now owns 240,000 shares of the company’s stock worth $8,678,000 after buying an additional 20,000 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in Appian during the 2nd quarter worth approximately $273,000. Finally, Nepsis Inc. increased its stake in Appian by 29.6% during the 2nd quarter. Nepsis Inc. now owns 184,101 shares of the company’s stock worth $6,657,000 after buying an additional 41,999 shares during the period. 17.43% of the stock is currently owned by hedge funds and other institutional investors.
In other Appian news, CFO Mark Steven Lynch sold 3,050 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $27.60, for a total value of $84,180.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Charles Kramer sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $27.05, for a total transaction of $270,500.00. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,080,167 shares of company stock worth $28,442,017 and sold 304,156 shares worth $10,076,821. Corporate insiders own 64.00% of the company’s stock.
Shares of NASDAQ:APPN opened at $25.98 on Friday. Appian Corp has a 52 week low of $19.62 and a 52 week high of $43.61. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -42.59 and a beta of 1.81.
Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, November 1st. The company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.05. Appian had a negative net margin of 19.54% and a negative return on equity of 85.70%. The company had revenue of $54.95 million for the quarter, compared to the consensus estimate of $49.73 million. During the same period in the prior year, the firm posted ($0.08) EPS. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Appian Corp will post -0.77 earnings per share for the current year.
APPN has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Appian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, August 3rd. Barclays reaffirmed a “sell” rating and set a $28.00 target price (up from $27.00) on shares of Appian in a research note on Sunday, August 5th. BidaskClub raised shares of Appian from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. Zacks Investment Research downgraded shares of Appian from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Canaccord Genuity upped their target price on shares of Appian from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $27.67.
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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