SG Americas Securities LLC Takes $398,000 Position in Appian Co. (NASDAQ:APPN)

SG Americas Securities LLC purchased a new stake in Appian Co. (NASDAQ:APPN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,671 shares of the company’s stock, valued at approximately $398,000.

Several other hedge funds and other institutional investors also recently modified their holdings of APPN. Vanguard Group Inc. raised its position in shares of Appian by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 4,689,370 shares of the company’s stock valued at $176,602,000 after purchasing an additional 132,827 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Appian in the fourth quarter valued at approximately $210,000. Los Angeles Capital Management LLC raised its position in shares of Appian by 14.1% in the first quarter. Los Angeles Capital Management LLC now owns 23,285 shares of the company’s stock valued at $930,000 after purchasing an additional 2,881 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Appian in the first quarter valued at approximately $220,000. Finally, Concord Wealth Partners bought a new stake in shares of Appian in the first quarter valued at approximately $85,000. Institutional investors own 52.70% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was acquired at an average price of $33.75 per share, with a total value of $346,443.75. Following the purchase, the insider now directly owns 10,179,538 shares in the company, valued at approximately $343,559,407.50. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 1,521,776 shares of company stock valued at $48,666,576 in the last quarter. Corporate insiders own 44.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on APPN shares. KeyCorp lowered shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Barclays reduced their price objective on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, August 5th. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group reduced their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $33.00 price objective on shares of Appian in a research note on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Appian currently has an average rating of “Hold” and an average price target of $39.20.

Appian Price Performance

APPN stock opened at $30.81 on Friday. Appian Co. has a one year low of $26.28 and a one year high of $43.64. The stock has a market cap of $2.23 billion, a PE ratio of -20.96 and a beta of 1.57. The firm has a 50 day simple moving average of $31.98 and a two-hundred day simple moving average of $32.51.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The business had revenue of $146.50 million during the quarter, compared to analysts’ expectations of $142.87 million. During the same quarter in the previous year, the company earned ($0.55) EPS. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, research analysts expect that Appian Co. will post -1.07 EPS for the current fiscal year.

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.