Charles Schwab Investment Management Inc. Sells 7,893 Shares of Appian Corporation $APPN

Charles Schwab Investment Management Inc. lowered its stake in Appian Corporation (NASDAQ:APPN) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 341,039 shares of the company’s stock after selling 7,893 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.46% of Appian worth $9,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Concord Wealth Partners increased its holdings in Appian by 21.7% in the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock worth $74,000 after acquiring an additional 461 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Appian by 6.3% in the first quarter. Penserra Capital Management LLC now owns 16,646 shares of the company’s stock worth $479,000 after purchasing an additional 989 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Appian in the fourth quarter worth $35,000. Finally, Cornerstone Advisory LLC increased its stake in shares of Appian by 4.4% in the first quarter. Cornerstone Advisory LLC now owns 31,162 shares of the company’s stock worth $956,000 after purchasing an additional 1,322 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp sold 10,450 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $31.45, for a total transaction of $328,652.50. Following the completion of the transaction, the insider directly owned 7,736,491 shares in the company, valued at approximately $243,312,641.95. This represents a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 1,462,510 shares of company stock worth $46,548,837. 44.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Appian to a “strong-buy” rating in a research note on Monday, August 11th. Morgan Stanley boosted their price objective on Appian from $27.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. DA Davidson began coverage on Appian in a research note on Friday, August 8th. They issued a “neutral” rating and a $30.00 price objective for the company. Citigroup increased their target price on Appian from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.40.

Appian Stock Up 2.8%

Shares of Appian stock opened at $29.81 on Monday. Appian Corporation has a twelve month low of $24.00 and a twelve month high of $43.33. The business has a 50-day moving average price of $29.28 and a 200-day moving average price of $30.22. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -129.60 and a beta of 1.75.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $170.64 million during the quarter, compared to the consensus estimate of $160.01 million. During the same quarter in the prior year, the company earned ($0.26) EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. On average, equities analysts expect that Appian Corporation will post -0.28 EPS for the current fiscal year.

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.