AlphaQuest LLC Buys 17,683 Shares of Appian Co. (NASDAQ:APPN)

by · The Markets Daily

AlphaQuest LLC lifted its holdings in Appian Co. (NASDAQ:APPN – Free Report) by 147,358.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,695 shares of the company’s stock after buying an additional 17,683 shares during the quarter. AlphaQuest LLC’s holdings in Appian were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APPN. Abdiel Capital Advisors LP grew its position in shares of Appian by 72.6% in the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after buying an additional 4,278,969 shares during the period. BNP Paribas Financial Markets grew its position in shares of Appian by 282.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock worth $4,584,000 after buying an additional 99,198 shares during the period. Barclays PLC grew its position in shares of Appian by 285.9% in the 3rd quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after buying an additional 53,172 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Appian in the 4th quarter worth about $1,688,000. Finally, GSA Capital Partners LLP grew its position in shares of Appian by 354.7% in the 3rd quarter. GSA Capital Partners LLP now owns 57,630 shares of the company’s stock worth $1,967,000 after buying an additional 44,957 shares during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the sale, the director now owns 29,348 shares of the company’s stock, valued at $974,647.08. This trade represents a 3.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 44.00% of the company’s stock.

Appian Stock Performance

Shares of APPN stock opened at $30.13 on Wednesday. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The company’s 50-day moving average is $33.45 and its 200 day moving average is $34.34. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -23.91 and a beta of 1.65.

Appian (NASDAQ:APPN – Get Free Report) last announced its quarterly 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). The company had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. As a group, research analysts predict that Appian Co. will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APPN. 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 target price on the stock. Barclays increased their price objective on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Finally, KeyCorp reissued a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.17.

Read Our Latest Stock Report on Appian

Appian Profile

(Free Report)

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.

See Also

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