Cwm LLC Sells 500 Shares of Appian Co. (NASDAQ:APPN)

Cwm LLC trimmed its stake in Appian Co. (NASDAQ:APPNGet Rating) by 27.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,330 shares of the company’s stock after selling 500 shares during the period. Cwm LLC’s holdings in Appian were worth $54,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of APPN. Heritage Wealth Management LLC bought a new position in Appian in the second quarter worth about $27,000. Parkwood LLC bought a new position in shares of Appian in the 2nd quarter worth approximately $39,000. Captrust Financial Advisors raised its position in shares of Appian by 44.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock worth $63,000 after acquiring an additional 404 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new stake in shares of Appian during the second quarter valued at approximately $74,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Appian in the first quarter worth $109,000. Institutional investors own 50.89% of the company’s stock.

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Management, Llc acquired 60,900 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were bought at an average price of $49.85 per share, for a total transaction of $3,035,865.00. Following the completion of the transaction, the insider now directly owns 8,389,018 shares in the company, valued at $418,192,547.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Abdiel Capital Management, Llc acquired 60,900 shares of Appian stock in a transaction that occurred on Tuesday, November 1st. The stock was bought at an average price of $49.85 per share, for a total transaction of $3,035,865.00. Following the completion of the transaction, the insider now owns 8,389,018 shares in the company, valued at $418,192,547.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Christopher Winters sold 4,244 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $34.40, for a total value of $145,993.60. Following the completion of the transaction, the general counsel now directly owns 45,210 shares in the company, valued at approximately $1,555,224. The disclosure for this sale can be found here. Over the last three months, insiders purchased 627,731 shares of company stock worth $23,493,685 and sold 7,786 shares worth $275,579. Company insiders own 43.50% of the company’s stock.

Analysts Set New Price Targets

APPN has been the subject of several recent research reports. Morgan Stanley lowered their price objective on Appian from $54.00 to $42.00 and set an “equal weight” rating for the company in a research report on Friday, November 4th. Credit Suisse Group started coverage on shares of Appian in a report on Friday, September 23rd. They issued a “neutral” rating and a $45.00 price objective on the stock. KeyCorp dropped their price target on Appian from $55.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup cut their price target on Appian from $55.00 to $46.00 in a research note on Friday, October 21st. Finally, The Goldman Sachs Group dropped their target price on Appian from $71.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, November 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $43.89.

Appian Trading Down 2.0 %

Shares of APPN opened at $36.62 on Friday. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -18.59 and a beta of 1.58. The business’s fifty day simple moving average is $35.74 and its two-hundred day simple moving average is $42.90. Appian Co. has a 12 month low of $29.80 and a 12 month high of $66.91.

Appian (NASDAQ:APPNGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.27). Appian had a negative net margin of 31.83% and a negative return on equity of 53.25%. The business had revenue of $117.88 million for the quarter, compared to the consensus estimate of $116.11 million. During the same period in the previous year, the company earned ($0.29) earnings per share. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, research analysts forecast that Appian Co. will post -1.86 EPS for the current year.

Appian Profile

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Appian Corporation provides low-code automation platform in the United States and internationally. The company's platform automates the creation of forms, workflows, data structures, reports, user interfaces, and other software elements that are needed to be manually coded. The company also offers professional and customer support services.

See Also

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Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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