18,800 Appian Corporation $APPN Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in Appian Corporation (NASDAQ:APPN) by 30.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,658 shares of the company’s stock after selling 18,800 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.06% of Appian worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RPD Fund Management LLC purchased a new stake in Appian during the 1st quarter valued at about $94,496,000. Lead Edge Capital Management LLC increased its holdings in shares of Appian by 18.5% in the first quarter. Lead Edge Capital Management LLC now owns 1,905,634 shares of the company’s stock valued at $45,945,000 after purchasing an additional 296,845 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Appian by 16.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,519,653 shares of the company’s stock worth $36,639,000 after purchasing an additional 215,183 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Appian by 16.9% in the first quarter. First Trust Advisors LP now owns 1,355,961 shares of the company’s stock worth $32,692,000 after purchasing an additional 196,021 shares during the last quarter. Finally, Moody Aldrich Partners LLC purchased a new position in shares of Appian in the third quarter worth about $878,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Performance

NASDAQ:APPN opened at $49.82 on Thursday. Appian Corporation has a one year low of $18.63 and a one year high of $54.12. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -332.11 and a beta of 0.84. The firm’s fifty day moving average is $41.03 and its two-hundred day moving average is $29.30.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.13 earnings per share for the quarter. The business had revenue of $203.26 million during the quarter, compared to analyst estimates of $193.38 million. Appian had a negative return on equity of 35.20% and a negative net margin of 1.34%. The company’s revenue was up 19.1% compared to the same quarter last year. As a group, equities research analysts predict that Appian Corporation will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Morgan Stanley lifted their target price on Appian from $25.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Zacks Research downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Wall Street Zen lowered shares of Appian from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. Weiss Ratings raised shares of Appian from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 3rd. Finally, Citigroup lifted their price objective on shares of Appian from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $36.50.

Insider Activity at Appian

In other news, CEO Matthew Calkins sold 45,000 shares of the company’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $37.50, for a total value of $1,687,500.00. Following the sale, the chief executive officer owned 1,584,144 shares in the company, valued at $59,405,400. This represents a 2.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 42.81% of the stock is owned by insiders.

About Appian

Appian Corporation (NASDAQ: APPN) develops and provides a low-code platform designed to help organizations build, manage and automate business applications and processes. Its platform combines process orchestration, workflow automation, artificial intelligence, robotic process automation, case management and data management capabilities in a unified environment.

Appian’s software is used to improve operational efficiency, connect data and systems, and support applications such as customer service, compliance, supply chain management and government services.