Appian Co. (NASDAQ:APPN) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in shares of Appian Co. (NASDAQ:APPN) by 14.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,600 shares of the company’s stock after acquiring an additional 1,100 shares during the period. Handelsbanken Fonder AB’s holdings in Appian were worth $284,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Entropy Technologies LP acquired a new stake in Appian during the fourth quarter worth approximately $208,000. Chicago Partners Investment Group LLC boosted its position in shares of Appian by 18.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company’s stock valued at $1,081,000 after purchasing an additional 4,813 shares during the period. Arete Wealth Advisors LLC acquired a new stake in Appian during the 3rd quarter worth $291,000. Geode Capital Management LLC grew its position in Appian by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock worth $32,695,000 after purchasing an additional 5,772 shares during the last quarter. Finally, Barclays PLC increased its stake in Appian by 285.9% in the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock valued at $2,451,000 after purchasing an additional 53,172 shares during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. KeyCorp reissued a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Finally, Scotiabank initiated coverage on shares of Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.17.

Insider Transactions at Appian

In related news, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the transaction, the director now directly owns 29,348 shares in the company, valued at $974,647.08. The trade was a 3.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 44.00% of the company’s stock.

Appian Stock Performance

Shares of NASDAQ APPN opened at $31.45 on Tuesday. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The firm has a market capitalization of $2.69 billion, a P/E ratio of -24.96 and a beta of 1.64. The company’s fifty day moving average is $33.76 and its two-hundred day moving average is $34.33.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $164.31 million. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. Appian’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $0.06 EPS. On average, sell-side analysts forecast that Appian Co. will post -0.28 earnings per share 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.