HighTower Advisors LLC Has $866,000 Stake in Appian Co. (NASDAQ:APPN)

HighTower Advisors LLC grew its holdings in Appian Co. (NASDAQ:APPN) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,273 shares of the company’s stock after purchasing an additional 193 shares during the period. HighTower Advisors LLC’s holdings in Appian were worth $866,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Baillie Gifford & Co. increased its holdings in shares of Appian by 5.5% in the 2nd quarter. Baillie Gifford & Co. now owns 6,281,070 shares of the company’s stock valued at $865,217,000 after purchasing an additional 325,546 shares during the period. BlackRock Inc. increased its holdings in Appian by 5.2% in the first quarter. BlackRock Inc. now owns 2,835,438 shares of the company’s stock worth $376,972,000 after buying an additional 140,349 shares during the last quarter. Geode Capital Management LLC increased its holdings in Appian by 10.4% in the first quarter. Geode Capital Management LLC now owns 633,522 shares of the company’s stock worth $84,226,000 after buying an additional 59,521 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in Appian by 116.8% in the first quarter. Voloridge Investment Management LLC now owns 346,362 shares of the company’s stock worth $46,049,000 after buying an additional 186,582 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Appian by 3.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 203,578 shares of the company’s stock worth $27,066,000 after buying an additional 6,728 shares during the last quarter. Institutional investors own 38.52% of the company’s stock.

APPN opened at $98.37 on Tuesday. Appian Co. has a 1-year low of $54.53 and a 1-year high of $260.00. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -146.82 and a beta of 1.72. The business has a 50 day moving average of $109.24 and a 200-day moving average of $118.21.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Wednesday, August 4th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Appian had a negative net margin of 14.33% and a negative return on equity of 14.87%. The business had revenue of $83.00 million during the quarter, compared to the consensus estimate of $77.74 million. Equities research analysts anticipate that Appian Co. will post -0.92 EPS for the current fiscal year.

In related news, Director Albert G.W. Biddle III sold 5,900 shares of the firm’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $134.97, for a total value of $796,323.00. Following the completion of the transaction, the director now directly owns 9,096 shares of the company’s stock, valued at $1,227,687.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 43.90% of the stock is currently owned by corporate insiders.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Appian from a “sell” rating to a “hold” rating in a report on Wednesday, July 7th. Macquarie upgraded Appian from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a report on Tuesday, May 25th. Truist dropped their price objective on Appian from $205.00 to $120.00 and set a “hold” rating on the stock in a report on Monday, August 2nd. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “buy” rating and set a $186.00 target price on shares of Appian in a research report on Wednesday, September 1st. Finally, Barclays upped their target price on Appian from $77.00 to $90.00 and gave the stock an “underweight” rating in a research report on Friday. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Appian currently has an average rating of “Hold” and a consensus target price of $123.86.

Appian Profile

Appian Corp. provides business process management (BPM) solutions. Its BPM tools automate and measures business processes. The firm’s products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matt Calkins, Robert C. Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in Reston, VA.

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Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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