Christopher Winters Sells 30,000 Shares of Appian Co. (NASDAQ:APPN) Stock

Appian Co. (NASDAQ:APPN) General Counsel Christopher Winters sold 30,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $50.23, for a total value of $1,506,900.00. Following the transaction, the general counsel now owns 15,210 shares in the company, valued at $763,998.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Appian Stock Down 1.2 %

NASDAQ:APPN opened at $46.68 on Friday. The stock’s fifty day moving average price is $48.72 and its two-hundred day moving average price is $44.58. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -21.51 and a beta of 1.64. Appian Co. has a 52-week low of $29.80 and a 52-week high of $54.26. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.34 and a current ratio of 1.34.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, August 3rd. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.02. The company had revenue of $127.72 million during the quarter, compared to analysts’ expectations of $123.94 million. Appian had a negative net margin of 31.11% and a negative return on equity of 112.32%. On average, analysts anticipate that Appian Co. will post -1.73 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on APPN. DA Davidson began coverage on Appian in a report on Monday, June 5th. They set a “neutral” rating and a $40.00 price objective on the stock. Morgan Stanley lifted their price objective on Appian from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Barclays lifted their price objective on Appian from $35.00 to $41.00 and gave the company an “underweight” rating in a report on Friday, August 4th. Citigroup lifted their price objective on Appian from $40.00 to $57.00 in a report on Wednesday, June 21st. Finally, KeyCorp boosted their target price on Appian from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.67.

Institutional Trading of Appian

Several institutional investors and hedge funds have recently made changes to their positions in the business. Virginia Retirement Systems ET AL bought a new stake in shares of Appian during the 2nd quarter valued at $976,000. Nuveen Asset Management LLC raised its stake in Appian by 2.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 107,999 shares of the company’s stock worth $5,141,000 after buying an additional 2,266 shares during the period. GTS Securities LLC acquired a new stake in Appian during the 2nd quarter worth $680,000. Alliancebernstein L.P. raised its stake in Appian by 0.8% during the 2nd quarter. Alliancebernstein L.P. now owns 52,214 shares of the company’s stock worth $2,485,000 after buying an additional 411 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Appian by 56.4% during the 2nd quarter. Wells Fargo & Company MN now owns 28,342 shares of the company’s stock worth $1,349,000 after buying an additional 10,216 shares during the period. Institutional investors own 41.15% of the company’s stock.

About Appian

Appian Corporation provides low-code process automation platform in the United States and internationally. The company's platform offers workflow, artificial intelligence, robotic process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize end-to-end processes and complex business operations.