70,621 Shares in Appian Co. (NASDAQ:APPN) Purchased by 272 Capital LP

272 Capital LP acquired a new position in Appian Co. (NASDAQ:APPN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 70,621 shares of the company’s stock, valued at approximately $2,179,000. 272 Capital LP owned about 0.10% of Appian as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. King Luther Capital Management Corp raised its position in Appian by 25.1% in the 2nd quarter. King Luther Capital Management Corp now owns 101,239 shares of the company’s stock valued at $3,124,000 after buying an additional 20,298 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Appian in the 2nd quarter worth $96,000. XTX Topco Ltd raised its holdings in shares of Appian by 170.0% in the second quarter. XTX Topco Ltd now owns 14,703 shares of the company’s stock valued at $454,000 after purchasing an additional 9,257 shares during the last quarter. DHK Financial Advisors Inc. bought a new position in shares of Appian during the second quarter valued at about $366,000. Finally, Edgestream Partners L.P. purchased a new position in Appian during the second quarter worth about $4,657,000. Institutional investors own 52.70% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 7,957 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were bought at an average cost of $33.55 per share, for a total transaction of $266,957.35. Following the purchase, the insider now owns 10,126,448 shares in the company, valued at approximately $339,742,330.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 2,395,090 shares of company stock worth $76,942,043 over the last 90 days. Corporate insiders own 44.00% of the company’s stock.

Appian Stock Down 1.3 %

APPN stock opened at $32.98 on Tuesday. Appian Co. has a fifty-two week low of $26.28 and a fifty-two week high of $46.56. The stock has a fifty day moving average of $32.26 and a 200-day moving average of $33.03. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -22.44 and a beta of 1.56. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.24 and a current ratio of 1.24.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.05. The company had revenue of $146.50 million for the quarter, compared to analyst estimates of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.55) earnings per share. As a group, equities research analysts predict that Appian Co. will post -1.07 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group cut their price objective on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Barclays lowered their target price on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research note on Monday, August 5th. Finally, DA Davidson lowered shares of Appian from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.20.

Appian 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.