Susquehanna Fundamental Investments LLC Makes New $2.81 Million Investment in Appian Co. (NASDAQ:APPN)

Susquehanna Fundamental Investments LLC purchased a new stake in Appian Co. (NASDAQ:APPN) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 85,093 shares of the company’s stock, valued at approximately $2,806,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Appian by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company’s stock valued at $165,839,000 after acquiring an additional 23,890 shares in the last quarter. Lead Edge Capital Management LLC raised its holdings in shares of Appian by 5.7% in the fourth quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company’s stock valued at $50,396,000 after purchasing an additional 83,000 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Appian by 7.1% in the fourth quarter. First Trust Advisors LP now owns 1,263,405 shares of the company’s stock worth $41,667,000 after purchasing an additional 83,708 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Appian by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock worth $32,071,000 after purchasing an additional 14,710 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Appian by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 348,932 shares of the company’s stock valued at $11,508,000 after purchasing an additional 14,085 shares in the last quarter. 52.70% of the stock is owned by institutional investors and hedge funds.

Appian Price Performance

APPN stock opened at $31.05 on Wednesday. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -24.64 and a beta of 1.78. The company has a fifty day moving average price of $29.63 and a two-hundred day moving average price of $33.34. Appian Co. has a one year low of $24.00 and a one year high of $43.33.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The company had revenue of $166.70 million during the quarter, compared to analyst estimates of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company posted $0.06 EPS. Research analysts anticipate that Appian Co. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the transaction, the director now owns 29,348 shares in the company, valued at $974,647.08. This represents a 3.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of Appian stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the completion of the sale, the insider now owns 9,942,140 shares of the company’s stock, valued at approximately $263,367,288.60. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 240,510 shares of company stock valued at $6,648,635. Insiders own 44.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APPN shares. KeyCorp reissued a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. DA Davidson reduced their price target on Appian from $40.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Citigroup lowered their price target on Appian from $53.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Scotiabank cut their price objective on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a report on Thursday, April 24th. Finally, Barclays lowered their target price on shares of Appian from $37.00 to $28.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.14.

Appian 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.