Strs Ohio Has $53,000 Stock Position in Appian Co. (NASDAQ:APPN)

Strs Ohio lowered its position in shares of Appian Co. (NASDAQ:APPN – Get Rating) by 75.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,300 shares of the company’s stock after selling 4,000 shares during the quarter. Strs Ohio’s holdings in Appian were worth $53,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of APPN. Arizona State Retirement System boosted its holdings in shares of Appian by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 9,383 shares of the company’s stock valued at $444,000 after buying an additional 265 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Appian by 13.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,527 shares of the company’s stock valued at $153,000 after buying an additional 305 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Appian by 44.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock valued at $63,000 after buying an additional 404 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Appian by 8.1% in the 1st quarter. US Bancorp DE now owns 5,838 shares of the company’s stock valued at $355,000 after buying an additional 439 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Appian by 1.1% in the 1st quarter. Rhumbline Advisers now owns 42,444 shares of the company’s stock valued at $2,581,000 after buying an additional 453 shares during the last quarter. Institutional investors and hedge funds own 50.89% of the company’s stock.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays cut their price objective on Appian from $30.00 to $25.00 and set an “underweight” rating for the company in a report on Tuesday, January 10th. KeyCorp cut their price target on Appian from $55.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, January 18th. Morgan Stanley cut their price target on Appian from $54.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, November 4th. Citigroup cut their price target on Appian from $55.00 to $46.00 in a report on Friday, October 21st. Finally, Truist Financial cut their price target on Appian from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.33.

Appian Price Performance

APPN stock opened at $38.61 on Monday. Appian Co. has a fifty-two week low of $29.80 and a fifty-two week high of $66.91. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -19.60 and a beta of 1.58. The business’s fifty day moving average price is $35.71 and its two-hundred day moving average price is $42.73.

Appian (NASDAQ:APPN – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.27). Appian had a negative return on equity of 53.25% and a negative net margin of 31.83%. The company had revenue of $117.88 million during the quarter, compared to the consensus estimate of $116.11 million. During the same quarter in the previous year, the business posted ($0.29) EPS. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. Research analysts expect that Appian Co. will post -1.86 EPS for the current year.

About Appian

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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.