Appian (NASDAQ:APPN) VP Edward L. Hughes sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $26.17, for a total transaction of $523,400.00. Following the completion of the transaction, the vice president now owns 132,359 shares in the company, valued at $3,463,835.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Appian opened at $29.47 on Friday, according to Marketbeat Ratings.
Appian (NASDAQ:APPN) last announced its earnings results on Thursday, May 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.06. The business had revenue of $51.70 million for the quarter, compared to analyst estimates of $46.12 million. Appian had a negative net margin of 19.55% and a negative return on equity of 77.57%. The firm’s revenue for the quarter was up 35.0% on a year-over-year basis. analysts anticipate that Appian will post -0.75 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of APPN. Nepsis Capital Management Inc. acquired a new stake in shares of Appian during the fourth quarter worth $4,306,000. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Appian by 25.0% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 307,117 shares of the company’s stock worth $9,668,000 after purchasing an additional 61,344 shares during the period. Rockefeller Financial Services Inc. acquired a new stake in shares of Appian during the fourth quarter worth $420,000. Roundview Capital LLC lifted its holdings in shares of Appian by 14.7% during the fourth quarter. Roundview Capital LLC now owns 103,794 shares of the company’s stock worth $3,267,000 after purchasing an additional 13,270 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Appian by 157.7% during the fourth quarter. BlackRock Inc. now owns 131,957 shares of the company’s stock worth $4,154,000 after purchasing an additional 80,753 shares during the period. 15.67% of the stock is owned by hedge funds and other institutional investors.
APPN has been the topic of several recent analyst reports. Morgan Stanley lowered shares of Appian from an “equal weight” rating to an “underweight” rating and set a $24.00 price target on the stock. in a research note on Thursday, January 11th. William Blair lowered shares of Appian from an “outperform” rating to a “market perform” rating in a research report on Friday, January 19th. They noted that the move was a valuation call. Cowen restated a “hold” rating and set a $27.00 target price on shares of Appian in a research report on Friday, February 23rd. BidaskClub upgraded shares of Appian from a “hold” rating to a “buy” rating in a research report on Thursday, April 12th. Finally, Zacks Investment Research upgraded shares of Appian from a “sell” rating to a “hold” rating in a research report on Tuesday, April 24th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Appian currently has a consensus rating of “Hold” and an average target price of $26.14.
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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