Rhumbline Advisers Buys 1,386 Shares of Appian Co. (NASDAQ:APPN)

Rhumbline Advisers boosted its holdings in Appian Co. (NASDAQ:APPN) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,779 shares of the company’s stock after purchasing an additional 1,386 shares during the period. Rhumbline Advisers owned approximately 0.08% of Appian worth $1,845,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new stake in Appian in the second quarter worth $65,000. Concord Wealth Partners bought a new stake in Appian in the first quarter worth $85,000. nVerses Capital LLC bought a new stake in Appian in the second quarter worth $105,000. Headlands Technologies LLC lifted its stake in Appian by 239.5% in the first quarter. Headlands Technologies LLC now owns 4,237 shares of the company’s stock worth $169,000 after purchasing an additional 2,989 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Appian in the fourth quarter worth $177,000. 52.70% of the stock is owned by institutional investors.

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 150,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $27.11 per share, for a total transaction of $4,066,500.00. Following the completion of the transaction, the insider now directly owns 8,255,847 shares in the company, valued at $223,816,012.17. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have bought 2,395,090 shares of company stock worth $76,942,043. Corporate insiders own 44.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on APPN shares. Barclays lowered their price target on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, August 5th. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research report 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. Finally, The Goldman Sachs Group decreased 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. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Appian has a consensus rating of “Hold” and an average target price of $39.20.

Appian Price Performance

Shares of NASDAQ APPN opened at $33.41 on Friday. Appian Co. has a 1 year low of $26.28 and a 1 year high of $46.56. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50-day moving average is $32.29 and its 200 day moving average is $33.07. The stock has a market capitalization of $2.41 billion, a P/E ratio of -22.73 and a beta of 1.56.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.26) EPS 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 analyst estimates of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. Appian’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.55) earnings per share. On average, sell-side analysts expect that Appian Co. will post -1.07 earnings per share for the current 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.