Appian Corp (NASDAQ:APPN) Director Prashanth Boccassam sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $54.05, for a total value of $162,150.00. Following the sale, the director now owns 6,573 shares in the company, valued at approximately $355,270.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of APPN stock traded down $0.45 during trading on Thursday, reaching $56.13. 930,280 shares of the company’s stock were exchanged, compared to its average volume of 563,238. The stock has a market capitalization of $3.48 billion, a PE ratio of -70.16 and a beta of 1.40. Appian Corp has a twelve month low of $22.61 and a twelve month high of $57.63. The business has a fifty day moving average price of $39.62.
Appian (NASDAQ:APPN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.07. Appian had a negative return on equity of 76.23% and a negative net margin of 23.12%. The firm had revenue of $66.90 million for the quarter, compared to analyst estimates of $63.44 million. During the same period in the prior year, the firm posted ($0.14) EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Appian Corp will post -0.83 EPS for the current fiscal year.
A number of brokerages have recently issued reports on APPN. Barclays set a $41.00 price objective on Appian and gave the stock a “hold” rating in a research note on Friday, August 9th. William Blair upgraded Appian from a “market perform” rating to an “outperform” rating and set a $35.10 price objective on the stock in a research note on Thursday, May 16th. Morgan Stanley raised Appian from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $30.00 to $36.00 in a report on Thursday, May 23rd. They noted that the move was a valuation call. BidaskClub raised Appian from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 8th. Finally, SunTrust Banks boosted their target price on Appian from $32.00 to $46.00 and gave the stock a “hold” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $36.87.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Appian by 12.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,219,612 shares of the company’s stock valued at $80,062,000 after buying an additional 246,269 shares in the last quarter. BlackRock Inc. raised its stake in shares of Appian by 275.1% in the second quarter. BlackRock Inc. now owns 2,048,737 shares of the company’s stock valued at $73,898,000 after buying an additional 1,502,545 shares during the period. First Trust Advisors LP grew its stake in shares of Appian by 1,397.0% in the 2nd quarter. First Trust Advisors LP now owns 1,089,865 shares of the company’s stock worth $39,311,000 after buying an additional 1,017,061 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Appian by 17.2% in the 2nd quarter. Baillie Gifford & Co. now owns 927,508 shares of the company’s stock worth $33,456,000 after buying an additional 136,205 shares during the last quarter. Finally, Cortina Asset Management LLC grew its stake in shares of Appian by 2.6% in the 2nd quarter. Cortina Asset Management LLC now owns 603,737 shares of the company’s stock worth $21,777,000 after buying an additional 15,137 shares during the last quarter. 30.26% of the stock is currently owned by hedge funds and other institutional investors.
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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