Appian Co. (NASDAQ:APPN) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its holdings in Appian Co. (NASDAQ:APPN) by 21.1% during the 4th quarter, Holdings Channel reports. The fund owned 11,338 shares of the company’s stock after selling 3,032 shares during the quarter. Cresset Asset Management LLC’s holdings in Appian were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Appian by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company’s stock valued at $165,839,000 after purchasing an additional 23,890 shares in the last quarter. Lead Edge Capital Management LLC boosted its stake in Appian by 5.7% during the 4th 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 in the last quarter. First Trust Advisors LP boosted its stake in Appian by 7.1% during the 4th quarter. First Trust Advisors LP now owns 1,263,405 shares of the company’s stock valued at $41,667,000 after purchasing an additional 83,708 shares in the last quarter. Geode Capital Management LLC boosted its stake in Appian by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock valued at $32,071,000 after purchasing an additional 14,710 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Appian by 3.5% during the 4th quarter. Northern Trust Corp now owns 363,921 shares of the company’s stock valued at $12,002,000 after purchasing an additional 12,337 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. DA Davidson increased their price target on Appian from $28.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Barclays increased their price target on Appian from $28.00 to $33.00 and gave the company an “underweight” rating in a research note on Friday, May 9th. Scotiabank decreased their price target on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Citigroup increased their price target on Appian from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley increased their price target on Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Appian has a consensus rating of “Hold” and an average target price of $36.29.

Appian Stock Up 0.5%

APPN opened at $33.13 on Friday. The firm has a market cap of $2.45 billion, a PE ratio of -26.29 and a beta of 1.83. The business has a fifty day simple moving average of $29.51 and a 200-day simple moving average of $33.34. Appian Co. has a fifty-two week low of $24.00 and a fifty-two week high of $43.33.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.10. The business had revenue of $166.43 million during the quarter, compared to analyst estimates of $163.27 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted ($0.24) EPS. On average, equities research analysts anticipate that Appian Co. will post -0.28 EPS for the current fiscal year.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total value of $1,711,422.00. Following the completion of the sale, the insider now owns 10,121,563 shares of the company’s stock, valued at $298,788,539.76. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the sale, the director now directly owns 29,348 shares of the company’s stock, valued at approximately $974,647.08. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 380,560 shares of company stock valued at $11,124,633 over the last quarter. Company insiders own 43.00% of the company’s stock.

Appian Company 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.