Insider Selling: Appian Corp (APPN) VP Sells $510,200.00 in Stock

Appian Corp (NASDAQ:APPN) VP Edward L. Hughes sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $25.51, for a total transaction of $510,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of APPN opened at $28.21 on Thursday. Appian Corp has a twelve month low of $19.62 and a twelve month high of $43.61. The firm has a market capitalization of $1.68 billion, a PE ratio of -46.25 and a beta of 1.81.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, November 1st. The company reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.05. Appian had a negative net margin of 19.54% and a negative return on equity of 85.70%. The business had revenue of $54.95 million for the quarter, compared to analyst estimates of $49.73 million. During the same period last year, the business earned ($0.08) EPS. The company’s revenue was up 23.1% on a year-over-year basis. Sell-side analysts anticipate that Appian Corp will post -0.76 earnings per share for the current fiscal year.

A number of research firms have issued reports on APPN. BidaskClub upgraded shares of Appian from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. Barclays upgraded shares of Appian from an “underweight” rating to an “equal weight” rating and set a $29.00 target price on the stock in a report on Monday, October 15th. Zacks Investment Research lowered shares of Appian from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Canaccord Genuity increased their target price on shares of Appian from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, August 3rd. Finally, Morgan Stanley raised their price objective on shares of Appian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $27.67.

Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp raised its holdings in shares of Appian by 66.2% in the 1st quarter. Northern Trust Corp now owns 38,595 shares of the company’s stock valued at $972,000 after purchasing an additional 15,371 shares in the last quarter. Oakcliff Capital Partners LP acquired a new stake in shares of Appian in the 2nd quarter valued at $8,434,000. Engle Capital Management L.P. grew its position in shares of Appian by 9.1% in 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 during the last quarter. Tocqueville Asset Management L.P. purchased a new position in shares of Appian in the 2nd quarter valued at $273,000. Finally, Nepsis Inc. grew its position in shares of Appian by 29.6% in the 2nd quarter. Nepsis Inc. now owns 184,101 shares of the company’s stock valued at $6,657,000 after buying an additional 41,999 shares during the last quarter. Institutional investors and hedge funds own 17.43% of the company’s stock.

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About Appian

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.

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