Canada Pension Plan Investment Board Purchases Shares of 3,100 Appian Co. (NASDAQ:APPN)

Canada Pension Plan Investment Board acquired a new position in shares of Appian Co. (NASDAQ:APPN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,100 shares of the company’s stock, valued at approximately $96,000.

Other hedge funds also recently modified their holdings of the company. Neo Ivy Capital Management bought a new stake in Appian during the 2nd quarter worth approximately $65,000. Concord Wealth Partners acquired a new stake in shares of Appian in the first quarter valued at $85,000. nVerses Capital LLC bought a new position in shares of Appian in the second quarter valued at about $105,000. Headlands Technologies LLC lifted its position in Appian by 239.5% during the 1st quarter. Headlands Technologies LLC now owns 4,237 shares of the company’s stock worth $169,000 after buying an additional 2,989 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Appian during the 4th quarter worth about $210,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp purchased 1,712 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was bought at an average price of $32.91 per share, with a total value of $56,341.92. Following the acquisition, the insider now directly owns 10,169,273 shares of the company’s stock, valued at $334,670,774.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have bought 2,412,354 shares of company stock worth $77,512,846. Company insiders own 44.00% of the company’s stock.

Appian Stock Down 0.1 %

Shares of Appian stock opened at $34.94 on Friday. The business has a fifty day simple moving average of $32.16 and a 200 day simple moving average of $33.01. The stock has a market cap of $2.52 billion, a PE ratio of -23.77 and a beta of 1.56. The company has a quick ratio of 1.24, a current 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.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. The company had revenue of $146.50 million during the quarter, compared to analysts’ expectations of $142.87 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. Appian’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.55) EPS. Research analysts predict that Appian Co. will post -1.07 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.