Trexquant Investment LP Boosts Stake in Appian Co. (NASDAQ:APPN)

Trexquant Investment LP lifted its holdings in shares of Appian Co. (NASDAQ:APPN) by 10.8% during the fourth quarter, Holdings Channel reports. The fund owned 166,303 shares of the company’s stock after purchasing an additional 16,164 shares during the quarter. Trexquant Investment LP’s holdings in Appian were worth $5,485,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Appian by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company’s stock worth $11,432,000 after purchasing an additional 3,817 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Appian by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock worth $740,000 after buying an additional 686 shares in the last quarter. FMR LLC increased its stake in shares of Appian by 199.4% in the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after buying an additional 3,953 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Appian by 0.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock valued at $2,739,000 after acquiring an additional 491 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new position in Appian during the 3rd quarter valued at $427,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APPN. Scotiabank started coverage on shares of Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price on the stock. Barclays upped their price objective on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $37.80.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $26.49, for a total transaction of $2,080,206.72. Following the completion of the transaction, the insider now directly owns 9,942,140 shares in the company, valued at approximately $263,367,288.60. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following the completion of the sale, the director now owns 29,348 shares in the company, valued at approximately $974,647.08. This represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,493 shares of company stock worth $3,824,507. Insiders own 44.00% of the company’s stock.

Appian Stock Down 5.5 %

Shares of APPN stock opened at $26.40 on Friday. The company has a market cap of $1.95 billion, a P/E ratio of -20.95 and a beta of 1.78. The business has a 50 day moving average of $32.07 and a two-hundred day moving average of $34.06. Appian Co. has a 52 week low of $25.77 and a 52 week high of $43.33.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The company had revenue of $166.70 million for the quarter, compared to analyst estimates of $164.31 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. Analysts expect that Appian Co. 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.