Appian (APPN) Stock Price Down 0%

Shares of Appian Corp (NASDAQ:APPN) traded down 0% during trading on Friday . The stock traded as low as $28.05 and last traded at $28.74. 732,116 shares changed hands during mid-day trading, an increase of 27% from the average session volume of 575,711 shares. The stock had previously closed at $28.74.

A number of brokerages have commented on APPN. Barclays downgraded shares of Appian from an “equal weight” rating to an “underweight” rating and set a $26.00 price objective for the company. in a research report on Monday, January 8th. SunTrust Banks downgraded shares of Appian from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a research report on Monday, January 8th. BidaskClub upgraded shares of Appian from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 6th. Goldman Sachs Group downgraded shares of Appian from a “neutral” rating to a “sell” rating and set a $17.00 price objective for the company. in a research report on Thursday, January 18th. Finally, William Blair downgraded 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. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $23.71.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.10. The company had revenue of $50.60 million for the quarter, compared to analyst estimates of $41.78 million. The firm’s revenue was up 50.1% on a year-over-year basis. research analysts expect that Appian Corp will post -0.61 EPS for the current fiscal year.

In related news, major shareholder Qualified Master Fund L. Abdiel purchased 17,473 shares of the stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost of $20.14 per share, with a total value of $351,906.22. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder M James Barrett sold 569,620 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $19.49, for a total transaction of $11,101,893.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 512,543 shares of company stock worth $10,557,263.

Several large investors have recently bought and sold shares of APPN. Abdiel Capital Advisors LP grew its stake in shares of Appian by 32.8% during the 4th quarter. Abdiel Capital Advisors LP now owns 5,017,229 shares of the company’s stock worth $157,942,000 after purchasing an additional 1,238,992 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Appian in the 2nd quarter valued at about $8,134,000. Vanguard Group Inc. acquired a new stake in Appian in the 2nd quarter valued at about $7,105,000. Brown Advisory Inc. grew its stake in Appian by 338.8% in the 4th quarter. Brown Advisory Inc. now owns 365,757 shares of the company’s stock valued at $11,515,000 after acquiring an additional 282,406 shares during the last quarter. Finally, Telemark Asset Management LLC grew its stake in Appian by 85.0% in the 4th quarter. Telemark Asset Management LLC now owns 370,000 shares of the company’s stock valued at $11,648,000 after acquiring an additional 170,000 shares during the last quarter. 14.22% of the stock is currently owned by institutional investors and hedge funds.

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Appian Company Profile

Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.

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