XTX Topco Ltd Raises Stock Position in Appian Co. (NASDAQ:APPN)

XTX Topco Ltd lifted its holdings in Appian Co. (NASDAQ:APPN) by 170.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,703 shares of the company’s stock after acquiring an additional 9,257 shares during the period. XTX Topco Ltd’s holdings in Appian were worth $454,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in APPN. Vanguard Group Inc. grew its stake in Appian by 8.4% during the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after acquiring an additional 392,190 shares in the last quarter. Hawk Ridge Capital Management LP increased its holdings in shares of Appian by 14.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock worth $70,043,000 after purchasing an additional 236,230 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Appian by 5.6% in the first quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock worth $70,169,000 after buying an additional 93,251 shares in the last quarter. First Trust Advisors LP boosted its stake in Appian by 31.6% during the fourth quarter. First Trust Advisors LP now owns 1,322,675 shares of the company’s stock valued at $49,812,000 after buying an additional 317,411 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Appian by 70.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after buying an additional 196,435 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 7,957 shares of Appian stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $33.55 per share, with a total value of $266,957.35. Following the completion of the transaction, the insider now owns 10,126,448 shares in the company, valued at approximately $339,742,330.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders bought 2,395,090 shares of company stock valued at $76,942,043 over the last 90 days. Insiders own 44.00% of the company’s stock.

Appian Trading Down 1.2 %

Shares of NASDAQ:APPN opened at $32.57 on Wednesday. The company has a market capitalization of $2.35 billion, a PE ratio of -22.16 and a beta of 1.56. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.68. Appian Co. has a 12-month low of $26.28 and a 12-month high of $46.56. The business’s fifty day simple moving average is $32.20 and its 200-day simple moving average is $33.00.

Appian (NASDAQ:APPN) last posted its 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 return on equity of 532.05% and a negative net margin of 18.80%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($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 fiscal year.

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.