Insider Selling: Appian Co. (NASDAQ:APPN) Director Sells 990 Shares of Stock

Appian Co. (NASDAQ:APPN) Director Albert G.W. Biddle III sold 990 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 29,348 shares in the company, valued at $974,647.08. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Appian Trading Down 0.3 %

Shares of NASDAQ:APPN traded down $0.11 on Monday, hitting $33.23. The company had a trading volume of 936,578 shares, compared to its average volume of 482,539. The stock has a 50 day moving average price of $34.13 and a 200 day moving average price of $34.19. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -26.37 and a beta of 1.64. Appian Co. has a 1-year low of $26.28 and a 1-year high of $43.33.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Sell-side analysts anticipate that Appian Co. will post -0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on APPN. Scotiabank began coverage on shares of Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price on the stock. KeyCorp restated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Finally, Barclays raised their target price on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.17.

Institutional Trading of Appian

Several hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Appian during the 3rd quarter worth $29,000. Point72 Hong Kong Ltd bought a new stake in shares of Appian in the fourth quarter valued at about $35,000. Canada Pension Plan Investment Board grew its position in shares of Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares in the last quarter. Russell Investments Group Ltd. grew its position in Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after buying an additional 3,498 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Appian in the fourth quarter valued at about $181,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.