Appian Corp (NASDAQ:APPN) General Counsel Christopher Winters sold 3,100 shares of the stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $27.07, for a total value of $83,917.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
NASDAQ APPN opened at $25.98 on Friday. Appian Corp has a 1 year low of $19.62 and a 1 year high of $43.61. The firm has a market capitalization of $1.79 billion, a P/E ratio of -42.59 and a beta of 1.81.
Appian (NASDAQ:APPN) last released its earnings results on Thursday, November 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.05. Appian had a negative return on equity of 85.70% and a negative net margin of 19.54%. The firm 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 earned ($0.08) EPS. The firm’s revenue was up 23.1% on a year-over-year basis. Research analysts predict that Appian Corp will post -0.77 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of Appian in the 3rd quarter valued at $166,000. UBS Group AG increased its position in shares of Appian by 240.8% in the 1st quarter. UBS Group AG now owns 6,717 shares of the company’s stock valued at $169,000 after acquiring an additional 4,746 shares during the period. California Public Employees Retirement System acquired a new position in shares of Appian in the 2nd quarter valued at $207,000. Point72 Asset Management L.P. acquired a new position in shares of Appian in the 2nd quarter valued at $264,000. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Appian in the 2nd quarter valued at $273,000. 17.43% of the stock is currently owned by hedge funds and other institutional investors.
APPN has been the subject of several analyst reports. Barclays upgraded Appian from an “underweight” rating to an “equal weight” rating and set a $29.00 price objective for the company in a report on Monday, October 15th. BidaskClub lowered Appian from a “hold” rating to a “sell” rating in a report on Saturday, October 13th. Canaccord Genuity increased their price objective on Appian from $28.00 to $30.00 and gave the company a “hold” rating in a report on Friday, August 3rd. Zacks Investment Research lowered Appian from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, Morgan Stanley increased their price objective on Appian from $26.00 to $28.00 and gave the company an “underweight” rating in a report 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 company. Appian has a consensus rating of “Hold” and an average price target 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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