Appian Corp (NASDAQ:APPN) major shareholder Qualified Master Fund L. Abdiel purchased 375,824 shares of Appian stock in a transaction dated Friday, October 5th. The shares were purchased at an average price of $28.39 per share, with a total value of $10,669,643.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
NASDAQ APPN opened at $28.46 on Monday. Appian Corp has a 52-week low of $19.62 and a 52-week high of $43.61. The firm has a market cap of $2.10 billion, a PE ratio of -46.66 and a beta of 0.58.
Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, August 2nd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. Appian had a negative net margin of 16.28% and a negative return on equity of 81.10%. The company had revenue of $59.88 million during the quarter, compared to the consensus estimate of $50.31 million. During the same period in the previous year, the firm posted ($0.08) EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. On average, research analysts predict that Appian Corp will post -0.75 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC lifted its holdings in shares of Appian by 5.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 812,243 shares of the company’s stock worth $20,452,000 after acquiring an additional 44,842 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Appian during the 2nd quarter worth $10,308,000. Engle Capital Management L.P. lifted its holdings in shares of 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 acquiring an additional 20,000 shares during the last quarter. Oakcliff Capital Partners LP bought a new stake in shares of Appian during the 2nd quarter worth $8,434,000. Finally, BlackRock Inc. lifted its holdings in shares of Appian by 25.6% during the 2nd quarter. BlackRock Inc. now owns 202,733 shares of the company’s stock worth $7,331,000 after acquiring an additional 41,348 shares during the last quarter. 16.75% of the stock is owned by institutional investors.
A number of research analysts have recently commented on APPN shares. Barclays boosted their price target on shares of Appian from $28.00 to $29.00 and gave the company an “underweight” rating in a research report on Friday, September 7th. SunTrust Banks lowered shares of Appian from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. They noted that the move was a valuation call. Canaccord Genuity boosted their price target on shares of Appian from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, August 3rd. Morgan Stanley boosted their price target on shares of Appian from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Friday, August 3rd. Finally, BidaskClub upgraded shares of Appian from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Appian has a consensus rating of “Hold” and an average price target of $27.29.
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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