Swiss National Bank Has $2 Million Holdings in Appian Co. (NASDAQ:APPN)

Swiss National Bank decreased its position in shares of Appian Co. (NASDAQ:APPN) by 5.3% during the 4th quarter, HoldingsChannel reports. The fund owned 60,700 shares of the company’s stock after selling 3,400 shares during the period. Swiss National Bank’s holdings in Appian were worth $2,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Appian by 184.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company’s stock valued at $6,637,000 after buying an additional 130,606 shares during the period. AlphaQuest LLC grew its holdings in Appian by 147,358.3% during the 4th quarter. AlphaQuest LLC now owns 17,695 shares of the company’s stock worth $584,000 after acquiring an additional 17,683 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Appian in the 4th quarter valued at approximately $1,688,000. Charles Schwab Investment Management Inc. raised its stake in shares of Appian by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 348,932 shares of the company’s stock valued at $11,508,000 after acquiring an additional 14,085 shares during the last quarter. Finally, Versor Investments LP bought a new position in shares of Appian during the fourth quarter valued at $574,000. Institutional investors own 52.70% of the company’s stock.

Appian Stock Performance

Shares of APPN opened at $29.34 on Friday. The firm has a market cap of $2.17 billion, a PE ratio of -23.29 and a beta of 1.65. Appian Co. has a 52-week low of $26.28 and a 52-week high of $43.33. The business’s 50 day moving average price is $32.57 and its two-hundred day moving average price is $34.19.

Appian (NASDAQ:APPN) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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 company posted $0.06 EPS. Appian’s revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts predict that Appian Co. will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

APPN has been the subject of a number of recent research reports. KeyCorp restated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Scotiabank began coverage on Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target for the company. Finally, Barclays lifted their price objective on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Appian presently has an average rating of “Hold” and an average target price of $37.80.

Insider Buying and Selling at Appian

In other news, Director Albert G.W. Biddle III sold 990 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the sale, the director now directly owns 29,348 shares of the company’s stock, valued at $974,647.08. The trade was a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 44.00% of the company’s stock.

Appian Company Profile

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.