Appian Corporation $APPN Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its stake in Appian Corporation (NASDAQ:APPN) by 2,173.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,899 shares of the company’s stock after purchasing an additional 82,120 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.12% of Appian worth $2,476,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. D. E. Shaw & Co. Inc. grew its position in shares of Appian by 19.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 658,654 shares of the company’s stock valued at $21,722,000 after purchasing an additional 106,023 shares during the period. Northern Trust Corp grew its position in shares of Appian by 3.5% in the fourth quarter. Northern Trust Corp now owns 363,921 shares of the company’s stock valued at $12,002,000 after purchasing an additional 12,337 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Appian by 26.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 254,912 shares of the company’s stock valued at $7,344,000 after purchasing an additional 53,667 shares during the period. Millennium Management LLC grew its position in shares of Appian by 28.5% in the fourth quarter. Millennium Management LLC now owns 254,706 shares of the company’s stock valued at $8,400,000 after purchasing an additional 56,420 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of Appian by 110.0% in the fourth quarter. Nuveen Asset Management LLC now owns 222,748 shares of the company’s stock valued at $7,346,000 after purchasing an additional 116,656 shares during the period. Institutional investors and hedge funds own 52.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on APPN shares. Citigroup boosted their price target 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. Barclays boosted their price target on shares of Appian from $28.00 to $33.00 and gave the stock an “underweight” rating in a research report on Friday, May 9th. Morgan Stanley lifted their target price 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. Zacks Research raised shares of Appian to a “strong-buy” rating in a research note on Monday, August 11th. Finally, DA Davidson assumed coverage on shares of Appian in a research note on Friday, August 8th. They set a “neutral” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.40.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $31.45, for a total value of $328,652.50. Following the sale, the insider directly owned 7,736,491 shares of the company’s stock, valued at approximately $243,312,641.95. The trade was a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 1,462,510 shares of company stock valued at $46,548,837. 44.00% of the stock is currently owned by insiders.

Appian Price Performance

Shares of APPN stock opened at $29.81 on Monday. The firm’s 50-day moving average is $29.28 and its two-hundred day moving average is $30.22. Appian Corporation has a 12 month low of $24.00 and a 12 month high of $43.33. The company has a market capitalization of $2.21 billion, a PE ratio of -129.60 and a beta of 1.75.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The firm had revenue of $170.64 million for the quarter, compared to analyst estimates of $160.01 million. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.26) earnings per share. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. Sell-side analysts forecast that Appian Corporation will post -0.28 EPS for the current year.

Appian 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.