Deutsche Bank AG Boosts Position in Appian Co. (NASDAQ:APPN)

Deutsche Bank AG raised its position in Appian Co. (NASDAQ:APPN) by 46.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,735 shares of the company’s stock after acquiring an additional 11,053 shares during the quarter. Deutsche Bank AG’s holdings in Appian were worth $1,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board raised its holdings in Appian by 27.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares during the period. Russell Investments Group Ltd. increased its position in Appian by 1,244.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after buying an additional 3,498 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Appian in the fourth quarter worth about $181,000. Entropy Technologies LP purchased a new position in shares of Appian during the 4th quarter valued at about $208,000. Finally, Magnetar Financial LLC purchased a new position in shares of Appian during the 4th quarter valued at about $249,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on APPN shares. Barclays lifted their target price on Appian from $28.00 to $33.00 and gave the company an “underweight” rating in a research note on Friday, May 9th. Scotiabank reduced their price objective on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. Citigroup upped their target price on shares of Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. DA Davidson raised their target price on shares of Appian from $28.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Morgan Stanley boosted their price target on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.29.

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the transaction, the insider now owns 9,942,140 shares of the company’s stock, valued at $263,367,288.60. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 795,635 shares of company stock valued at $24,611,535. 43.00% of the stock is currently owned by insiders.

Appian Stock Performance

Shares of NASDAQ APPN opened at $30.71 on Monday. The firm has a market cap of $2.27 billion, a PE ratio of -24.37 and a beta of 1.83. Appian Co. has a one year low of $24.00 and a one year high of $43.33. The firm has a fifty day moving average of $29.73 and a 200 day moving average of $33.04.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business had revenue of $166.43 million for the quarter, compared to analyst estimates of $163.27 million. During the same period last year, the company posted ($0.24) EPS. The business’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts predict that Appian Co. will post -0.28 EPS for the current fiscal year.

Appian Company 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.