Point72 Hong Kong Ltd Makes New $35,000 Investment in Appian Co. (NASDAQ:APPN)

Point72 Hong Kong Ltd bought a new stake in shares of Appian Co. (NASDAQ:APPN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,062 shares of the company’s stock, valued at approximately $35,000.

Several other large investors have also recently modified their holdings of the stock. Canada Pension Plan Investment Board boosted its stake in Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after buying an additional 500 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after purchasing an additional 3,498 shares during the period. KLP Kapitalforvaltning AS bought a new position in Appian during the 4th quarter valued at about $181,000. Entropy Technologies LP purchased a new stake in Appian in the 4th quarter worth about $208,000. Finally, Magnetar Financial LLC bought a new stake in Appian in the fourth quarter worth about $249,000. Institutional investors own 52.70% of the company’s stock.

Insider Buying and Selling at Appian

In other news, Director Albert G.W. Biddle III sold 990 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the sale, the director now owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $29.52, for a total value of $1,711,422.00. Following the completion of the sale, the insider now directly owns 10,121,563 shares of the company’s stock, valued at $298,788,539.76. The trade was a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 380,560 shares of company stock worth $11,124,633 over the last quarter. Insiders own 43.00% of the company’s stock.

Appian Stock Performance

NASDAQ:APPN opened at $32.54 on Friday. The firm has a 50-day simple moving average of $29.56 and a 200-day simple moving average of $33.31. Appian Co. has a one year low of $24.00 and a one year high of $43.33. The firm has a market cap of $2.41 billion, a P/E ratio of -25.83 and a beta of 1.83.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. The company had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. Appian’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted ($0.24) earnings per share. On average, research analysts predict that Appian Co. will post -0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APPN has been the subject of a number of research analyst reports. Scotiabank decreased their price target on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Barclays lifted their target price on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research report on Friday, May 9th. DA Davidson boosted their target price on shares of Appian from $28.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Morgan Stanley raised their price target on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Finally, Citigroup lifted their price objective on shares of Appian from $40.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Appian has an average rating of “Hold” and a consensus price target of $36.29.

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.