Oakcliff Capital Partners LP acquired a new stake in shares of Appian Corp (NASDAQ:APPN) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 233,264 shares of the company’s stock, valued at approximately $8,434,000. Appian makes up approximately 6.4% of Oakcliff Capital Partners LP’s holdings, making the stock its 9th biggest position. Oakcliff Capital Partners LP owned 0.38% of Appian at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of Appian during the 2nd quarter valued at $264,000. Raymond James & Associates purchased a new stake in shares of Appian during the 2nd quarter valued at $498,000. Engle Capital Management L.P. raised its position in shares of Appian by 9.1% during the 2nd quarter. Engle Capital Management L.P. now owns 240,000 shares of the company’s stock valued at $8,678,000 after buying an additional 20,000 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new stake in shares of Appian during the 2nd quarter valued at $273,000. Finally, Prescott Group Capital Management L.L.C. purchased a new stake in shares of Appian during the 2nd quarter valued at $470,000. Hedge funds and other institutional investors own 17.20% of the company’s stock.

In other Appian news, CEO Matthew W. Calkins sold 200,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $34.78, for a total value of $6,956,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel acquired 211,430 shares of the firm’s stock in a transaction on Friday, August 3rd. The stock was purchased at an average price of $30.39 per share, for a total transaction of $6,425,357.70. The disclosure for this purchase can be found here. In the last quarter, insiders sold 288,500 shares of company stock worth $9,893,115. 64.00% of the stock is owned by corporate insiders.

APPN has been the topic of several research reports. Zacks Investment Research upgraded shares of Appian from a “sell” rating to a “hold” rating in a research report on Wednesday, May 16th. BidaskClub cut shares of Appian from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. SunTrust Banks cut shares of Appian from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. They noted that the move was a valuation call. Morgan Stanley lifted their target price on shares of Appian from $24.00 to $26.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 27th. Finally, Canaccord Genuity lifted their target price on shares of Appian from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, August 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.29.

Shares of NASDAQ:APPN opened at $37.45 on Wednesday. The firm has a market capitalization of $2.22 billion, a P/E ratio of -61.39 and a beta of 0.44. Appian Corp has a 52 week low of $19.62 and a 52 week high of $43.61.

Appian (NASDAQ:APPN) last issued its earnings results on Thursday, August 2nd. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $59.88 million for the quarter, compared to analysts’ expectations of $50.31 million. Appian had a negative net margin of 16.28% and a negative return on equity of 81.10%. The firm’s revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. analysts forecast that Appian Corp will post -0.75 earnings per share for the current year.

Appian Company Profile

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.

Further Reading: Understanding Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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