Dynamic Technology Lab Private Ltd Takes $343,000 Position in Appian Co. (NASDAQ:APPN)

Dynamic Technology Lab Private Ltd purchased a new position in Appian Co. (NASDAQ:APPN) in the fourth quarter, HoldingsChannel reports. The fund purchased 10,400 shares of the company’s stock, valued at approximately $343,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. KLP Kapitalforvaltning AS acquired a new position in Appian in the fourth quarter worth $181,000. FMR LLC boosted its holdings in shares of Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after acquiring an additional 3,953 shares during the period. Entropy Technologies LP acquired a new stake in Appian in the fourth quarter worth about $208,000. Magnetar Financial LLC acquired a new stake in Appian in the fourth quarter worth about $249,000. Finally, Summit Global Investments acquired a new stake in Appian in the fourth quarter worth about $256,000. Institutional investors own 52.70% of the company’s stock.

Appian Stock Performance

Shares of NASDAQ APPN opened at $28.07 on Thursday. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -22.28 and a beta of 1.78. The business has a 50 day simple moving average of $31.20 and a 200 day simple moving average of $33.83. Appian Co. has a 52 week low of $24.00 and a 52 week high of $43.33.

Appian (NASDAQ:APPN) last announced its earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share (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 company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. During the same period in the previous year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, analysts predict that Appian Co. will post -0.28 EPS for the current year.

Analyst Ratings Changes

APPN has been the topic of several research reports. Scotiabank began coverage on shares of Appian in a research report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target on the stock. KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. One equities research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $37.80.

Insider Transactions at Appian

In related news, Director Albert G.W. Biddle III sold 990 shares of the company’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 transaction, the director now directly owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the transaction, the insider now owns 9,942,140 shares of the company’s stock, valued at $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. Insiders sold a total of 137,493 shares of company stock worth $3,824,507 over the last three months. 44.00% of the stock is currently owned by insiders.

About Appian

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.