Appian Co. (NASDAQ:APPN) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC increased its stake in shares of Appian Co. (NASDAQ:APPN) by 25.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,150 shares of the company’s stock after purchasing an additional 16,031 shares during the quarter. AQR Capital Management LLC owned 0.11% of Appian worth $2,412,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Appian by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after acquiring an additional 392,190 shares during the period. Hawk Ridge Capital Management LP lifted its position in Appian by 14.5% in the fourth quarter. Hawk Ridge Capital Management LP now owns 1,859,877 shares of the company’s stock valued at $70,043,000 after purchasing an additional 236,230 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Appian by 70.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after purchasing an additional 196,435 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Appian during the 2nd quarter worth approximately $4,657,000. Finally, Baillie Gifford & Co. raised its stake in shares of Appian by 5.6% during the 1st 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. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on APPN. DA Davidson downgraded Appian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. Barclays cut their price target on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a report on Monday, August 5th. William Blair downgraded shares of Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group reduced their price target on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.20.

Insider Buying and Selling at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 150,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was acquired at an average price of $37.76 per share, with a total value of $5,664,000.00. Following the completion of the transaction, the insider now directly owns 7,805,847 shares in the company, valued at approximately $294,748,782.72. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have bought 1,786,897 shares of company stock worth $57,968,762. Corporate insiders own 44.00% of the company’s stock.

Appian Stock Performance

Shares of APPN opened at $32.40 on Wednesday. Appian Co. has a 12-month low of $26.28 and a 12-month high of $44.44. The stock has a market cap of $2.34 billion, a P/E ratio of -22.04 and a beta of 1.57. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.68. The company has a 50-day moving average of $31.82 and a two-hundred day moving average of $32.82.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping 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%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.55) earnings per share. As a group, research analysts predict that Appian Co. will post -1.07 EPS for the current fiscal year.

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.