Appian Co. (NASDAQ:APPN) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of Appian Co. (NASDAQ:APPN) by 418.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,793 shares of the company’s stock after purchasing an additional 129,800 shares during the period. JPMorgan Chase & Co. owned approximately 0.19% of Appian worth $5,303,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in APPN. KLP Kapitalforvaltning AS bought a new position in Appian during the 4th quarter valued at $181,000. FMR LLC grew its stake in Appian by 199.4% in the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after purchasing an additional 3,953 shares in the last quarter. Entropy Technologies LP acquired a new stake in Appian during the fourth quarter valued at approximately $208,000. Magnetar Financial LLC bought a new position in Appian during the 4th quarter worth approximately $249,000. Finally, Summit Global Investments bought a new position in shares of Appian in the 4th quarter worth about $256,000. 52.70% of the stock is owned by institutional investors and hedge funds.

Appian Trading Down 1.3 %

Shares of NASDAQ APPN opened at $26.56 on Friday. Appian Co. has a twelve month low of $24.00 and a twelve month high of $43.33. The firm has a 50-day moving average of $30.20 and a two-hundred day moving average of $33.50. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -21.08 and a beta of 1.78.

Appian (NASDAQ:APPN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share 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%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, research analysts predict that Appian Co. will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APPN. DA Davidson cut their target price on shares of Appian from $40.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. KeyCorp restated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Scotiabank initiated coverage on Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price on the stock. Finally, Morgan Stanley reduced their price objective on Appian from $35.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.17.

Insiders Place Their Bets

In other news, Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were 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 of the company’s stock, valued at approximately $974,647.08. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $26.49, for a total value of $2,080,206.72. Following the completion of the transaction, the insider now directly owns 9,942,140 shares of the company’s stock, valued at approximately $263,367,288.60. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 240,510 shares of company stock valued at $6,648,635 over the last three months. 44.00% of the stock is currently owned by insiders.

About Appian

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.