Qualified Master Fund L. Abdiel Acquires 12,584 Shares of Appian (APPN) Stock

Appian (NASDAQ:APPN) major shareholder Qualified Master Fund L. Abdiel bought 12,584 shares of Appian stock in a transaction on Tuesday, April 17th. The stock was acquired at an average price of $26.20 per share, with a total value of $329,700.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Appian stock traded up $0.26 during trading hours on Thursday, reaching $26.23. 44,945 shares of the company’s stock traded hands, compared to its average volume of 454,944. Appian has a fifty-two week low of $14.60 and a fifty-two week high of $43.26. The company has a market cap of $1,602.32 and a PE ratio of -42.57.

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Appian (NASDAQ:APPN) last released its earnings results on Thursday, February 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The business had revenue of $50.60 million for the quarter, compared to analyst estimates of $41.78 million. The business’s revenue was up 50.1% on a year-over-year basis. research analysts expect that Appian will post -0.74 earnings per share for the current fiscal year.

Several brokerages recently issued reports on APPN. Zacks Investment Research upgraded shares of Appian from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded shares of Appian from a “hold” rating to a “buy” rating in a research report on Thursday, April 12th. Cowen reiterated a “hold” rating and set a $27.00 price target on shares of Appian in a research report on Friday, February 23rd. BTIG Research began coverage on shares of Appian in a research report on Monday, March 12th. They set a “neutral” rating on the stock. 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, seven have issued a hold rating and one has given a buy rating to the company. Appian has an average rating of “Hold” and a consensus price target of $24.29.

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of Appian by 79.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,133 shares of the company’s stock valued at $193,000 after acquiring an additional 2,715 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Appian in the 4th quarter valued at about $220,000. New York State Common Retirement Fund bought a new stake in shares of Appian in the 3rd quarter valued at about $205,000. Deutsche Bank AG increased its stake in shares of Appian by 421.7% in the 4th quarter. Deutsche Bank AG now owns 7,945 shares of the company’s stock valued at $250,000 after acquiring an additional 6,422 shares during the last quarter. Finally, Georgetown University bought a new stake in shares of Appian in the 4th quarter valued at about $420,000. 15.68% of the stock is owned by institutional investors.

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About Appian

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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