Appian Co. (NASDAQ:APPN) Shares Purchased by Lead Edge Capital Management LLC

Lead Edge Capital Management LLC grew its position in Appian Co. (NASDAQ:APPN) by 5.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,528,085 shares of the company’s stock after purchasing an additional 83,000 shares during the period. Appian comprises approximately 17.0% of Lead Edge Capital Management LLC’s holdings, making the stock its 2nd biggest holding. Lead Edge Capital Management LLC owned about 1.79% of Appian worth $50,396,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. increased its stake in shares of Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock valued at $270,000 after buying an additional 400 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after acquiring an additional 500 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Appian by 14.7% during the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock valued at $284,000 after acquiring an additional 1,100 shares during the period. MetLife Investment Management LLC increased its position in Appian by 8.0% in the fourth quarter. MetLife Investment Management LLC now owns 24,325 shares of the company’s stock worth $802,000 after purchasing an additional 1,809 shares during the period. Finally, Barclays PLC raised its holdings in Appian by 4.5% during the 4th quarter. Barclays PLC now owns 75,023 shares of the company’s stock worth $2,474,000 after purchasing an additional 3,252 shares during the last quarter. Institutional investors own 52.70% of the company’s stock.

Appian Trading Up 3.5 %

Shares of Appian stock opened at $26.74 on Wednesday. The stock’s fifty day simple moving average is $29.90 and its 200 day simple moving average is $33.39. The company has a market capitalization of $1.98 billion, a PE ratio of -21.22 and a beta of 1.78. Appian Co. has a 12 month low of $24.00 and a 12 month high of $43.33.

Appian (NASDAQ:APPN) last released 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). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The business had revenue of $166.70 million for the quarter, compared to analyst estimates of $164.31 million. During the same period in the prior year, the business earned $0.06 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. Analysts predict that Appian Co. will post -0.28 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp sold 5,103 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $27.02, for a total value of $137,883.06. Following the sale, the insider now directly owns 9,755,116 shares of the company’s stock, valued at approximately $263,583,234.32. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $33.21, for a total value of $32,877.90. Following the transaction, the director now 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 240,510 shares of company stock worth $6,648,635 over the last quarter. 44.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of Appian from $35.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. DA Davidson dropped their target price on shares of Appian from $40.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Citigroup reduced 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. Scotiabank started coverage on Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective for the company. Finally, Barclays reduced their target price on Appian from $37.00 to $28.00 and set an “underweight” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $34.57.

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.