nVerses Capital LLC Lowers Stock Position in Appian Co. (NASDAQ:APPN)

nVerses Capital LLC cut its stake in shares of Appian Co. (NASDAQ:APPN) by 11.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the company’s stock after selling 400 shares during the quarter. nVerses Capital LLC’s holdings in Appian were worth $102,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in shares of Appian during the second quarter valued at $65,000. Concord Wealth Partners bought a new position in shares of Appian during the first quarter valued at $85,000. Canada Pension Plan Investment Board bought a new position in shares of Appian during the second quarter valued at $96,000. Point72 Hong Kong Ltd bought a new position in shares of Appian during the second quarter valued at $121,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after acquiring an additional 1,088 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. The Goldman Sachs Group lowered their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Barclays dropped their target price on shares of Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a report on Monday, August 5th. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Finally, DA Davidson restated a “neutral” rating and issued a $33.00 target price on shares of Appian in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.20.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 1,486 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were purchased at an average cost of $32.98 per share, for a total transaction of $49,008.28. Following the transaction, the insider now directly owns 10,088,411 shares of the company’s stock, valued at approximately $332,715,794.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought 1,459,276 shares of company stock worth $46,484,701 in the last three months. Company insiders own 44.00% of the company’s stock.

Appian Price Performance

Shares of Appian stock opened at $31.47 on Monday. The company’s fifty day simple moving average is $32.04 and its 200-day simple moving average is $32.39. The stock has a market capitalization of $2.27 billion, a PE ratio of -21.41 and a beta of 1.57. Appian Co. has a 1-year low of $26.28 and a 1-year high of $43.64.

Appian (NASDAQ:APPN) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.05. The business had revenue of $146.50 million for the quarter, compared to analysts’ expectations 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 revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.55) EPS. As a group, research analysts anticipate that Appian Co. will post -1.07 EPS for the current 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.