Rhumbline Advisers Acquires 2,528 Shares of Appian Corporation (NASDAQ:APPN)

Rhumbline Advisers grew its stake in Appian Corporation (NASDAQ:APPN) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,088 shares of the company’s stock after purchasing an additional 2,528 shares during the period. Rhumbline Advisers owned approximately 0.08% of Appian worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of Appian during the fourth quarter worth $1,688,000. Geode Capital Management LLC grew its stake in shares of Appian by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock worth $32,071,000 after purchasing an additional 14,710 shares during the period. Handelsbanken Fonder AB increased its holdings in Appian by 14.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock valued at $284,000 after purchasing an additional 1,100 shares during the last quarter. Vanguard Group Inc. boosted its stake in Appian by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company’s stock worth $165,839,000 after acquiring an additional 23,890 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after purchasing an additional 3,498 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the business’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 sale, the insider now owns 9,942,140 shares in the company, valued at $263,367,288.60. The trade was a 0.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 2,258,145 shares of company stock worth $71,160,372 over the last three months. Corporate insiders own 44.00% of the company’s stock.

Appian Stock Performance

Shares of APPN opened at $29.97 on Wednesday. Appian Corporation has a 52 week low of $24.00 and a 52 week high of $43.33. The firm has a market cap of $2.22 billion, a P/E ratio of -36.11 and a beta of 1.75. The firm’s 50-day simple moving average is $30.48 and its 200 day simple moving average is $32.26.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $166.43 million for the quarter, compared to the consensus estimate of $163.27 million. During the same period in the prior year, the business posted ($0.24) earnings per share. Appian’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts forecast that Appian Corporation will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APPN has been the subject of a number of research reports. Scotiabank lowered their target price on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Barclays increased their price objective on Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a report on Friday, May 9th. Morgan Stanley boosted their price objective on shares of Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. DA Davidson upgraded shares of Appian to a “hold” rating in a research note on Monday, June 9th. Finally, Citigroup boosted their price target on Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.29.

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.