Appian Corp (NASDAQ:APPN) Director Sells $125,160.00 in Stock

Appian Corp (NASDAQ:APPN) Director Prashanth Boccassam sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $41.72, for a total transaction of $125,160.00. Following the completion of the sale, the director now owns 107,113 shares of the company’s stock, valued at approximately $4,468,754.36. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Prashanth Boccassam also recently made the following trade(s):

  • On Wednesday, October 16th, Prashanth Boccassam sold 3,000 shares of Appian stock. The shares were sold at an average price of $46.40, for a total transaction of $139,200.00.
  • On Wednesday, October 2nd, Prashanth Boccassam sold 3,000 shares of Appian stock. The stock was sold at an average price of $47.22, for a total transaction of $141,660.00.
  • On Wednesday, September 18th, Prashanth Boccassam sold 3,000 shares of Appian stock. The stock was sold at an average price of $47.63, for a total transaction of $142,890.00.
  • On Wednesday, September 4th, Prashanth Boccassam sold 3,000 shares of Appian stock. The stock was sold at an average price of $58.00, for a total transaction of $174,000.00.
  • On Wednesday, August 21st, Prashanth Boccassam sold 3,000 shares of Appian stock. The stock was sold at an average price of $59.90, for a total transaction of $179,700.00.
  • On Tuesday, August 13th, Prashanth Boccassam sold 3,000 shares of Appian stock. The stock was sold at an average price of $54.05, for a total transaction of $162,150.00.

APPN stock traded up $0.88 during midday trading on Friday, reaching $41.95. The company had a trading volume of 452,800 shares, compared to its average volume of 608,673. The company has a 50 day moving average of $46.11 and a two-hundred day moving average of $42.32. Appian Corp has a 1 year low of $24.03 and a 1 year high of $62.94. The company has a market capitalization of $2.76 billion, a P/E ratio of -52.44 and a beta of 0.99. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.02.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. Appian had a negative net margin of 20.80% and a negative return on equity of 61.04%. The company had revenue of $69.39 million for the quarter, compared to analyst estimates of $65.26 million. During the same quarter in the prior year, the business posted ($0.13) EPS. Appian’s quarterly revenue was up 26.3% on a year-over-year basis. On average, sell-side analysts anticipate that Appian Corp will post -0.79 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in APPN. BlackRock Inc. increased its stake in shares of Appian by 275.1% during the 2nd quarter. BlackRock Inc. now owns 2,048,737 shares of the company’s stock worth $73,898,000 after purchasing an additional 1,502,545 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Appian by 1,397.0% during the 2nd quarter. First Trust Advisors LP now owns 1,089,865 shares of the company’s stock worth $39,311,000 after purchasing an additional 1,017,061 shares during the last quarter. Granite Investment Partners LLC acquired a new position in shares of Appian during the 2nd quarter worth $13,856,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of Appian during the 2nd quarter worth $9,874,000. Finally, Great Lakes Advisors LLC acquired a new position in shares of Appian during the 3rd quarter worth $12,274,000. Institutional investors own 35.96% of the company’s stock.

A number of equities research analysts have issued reports on the stock. SunTrust Banks increased their target price on shares of Appian from $32.00 to $46.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Barclays set a $41.00 target price on shares of Appian and gave the stock a “hold” rating in a research report on Friday, August 9th. BidaskClub downgraded shares of Appian from a “buy” rating to a “hold” rating in a research report on Thursday. ValuEngine downgraded shares of Appian from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Zacks Investment Research downgraded shares of Appian from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $38.16.

About Appian

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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