KLP Kapitalforvaltning AS Increases Stock Holdings in Appian Corporation $APPN

KLP Kapitalforvaltning AS raised its stake in Appian Corporation (NASDAQ:APPN) by 40.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,700 shares of the company’s stock after purchasing an additional 2,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Appian were worth $230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Jones Financial Companies Lllp grew its stake in shares of Appian by 347,121.5% in the 1st quarter. Jones Financial Companies Lllp now owns 1,579,858 shares of the company’s stock valued at $45,516,000 after purchasing an additional 1,579,403 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Appian by 2.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 385,731 shares of the company’s stock valued at $11,113,000 after buying an additional 8,319 shares during the period. Harber Asset Management LLC lifted its holdings in shares of Appian by 46.2% in the 1st quarter. Harber Asset Management LLC now owns 340,297 shares of the company’s stock valued at $9,804,000 after buying an additional 107,602 shares during the period. Trexquant Investment LP lifted its holdings in shares of Appian by 87.5% in the 1st quarter. Trexquant Investment LP now owns 311,753 shares of the company’s stock valued at $8,982,000 after buying an additional 145,450 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Appian by 18.9% in the 1st quarter. Millennium Management LLC now owns 302,720 shares of the company’s stock valued at $8,721,000 after buying an additional 48,014 shares during the period. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on APPN. Weiss Ratings reissued a “sell (d-)” rating on shares of Appian in a report on Wednesday, October 8th. Zacks Research raised Appian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Finally, DA Davidson began coverage on Appian in a report on Friday, August 8th. They issued a “neutral” rating and a $30.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Appian has an average rating of “Hold” and a consensus price target of $33.40.

Appian Stock Performance

APPN opened at $29.21 on Tuesday. The business’s fifty day moving average is $30.29 and its two-hundred day moving average is $29.95. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -126.99 and a beta of 1.76. Appian Corporation has a one year low of $24.00 and a one year high of $43.33.

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 business had revenue of $170.64 million during the quarter, compared to the consensus estimate of $160.01 million. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.26) EPS. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. On average, analysts predict that Appian Corporation will post -0.28 EPS for the current fiscal 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.