Crestline Management LP Purchases 28,137 Shares of Appian Co. (NASDAQ:APPN)

Crestline Management LP increased its position in Appian Co. (NASDAQ:APPN) by 78.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,183 shares of the company’s stock after buying an additional 28,137 shares during the period. Crestline Management LP owned 0.08% of Appian worth $2,117,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Appian by 285.9% during the 3rd quarter. Barclays PLC now owns 71,771 shares of the company’s stock valued at $2,451,000 after acquiring an additional 53,172 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Appian by 18.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 31,127 shares of the company’s stock worth $1,081,000 after buying an additional 4,813 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Appian in the 4th quarter worth about $208,000. Handelsbanken Fonder AB raised its position in shares of Appian by 14.7% during the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the company’s stock valued at $284,000 after buying an additional 1,100 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Appian by 5.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock valued at $270,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APPN shares. Morgan Stanley decreased their price objective on Appian from $35.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Barclays lowered their price target on Appian from $37.00 to $28.00 and set an “underweight” rating for the company in a research report on Monday, April 21st. KeyCorp reissued a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Scotiabank dropped their price target on shares of Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. Finally, Citigroup reduced their price objective on shares of Appian from $53.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Appian has a consensus rating of “Hold” and an average target price of $34.14.

Insider Activity

In other news, Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was 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 of the company’s stock, valued at $974,647.08. This trade represents a 3.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp sold 78,528 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $26.49, for a total value of $2,080,206.72. Following the transaction, the insider now directly owns 9,942,140 shares in the company, valued at $263,367,288.60. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 240,510 shares of company stock worth $6,648,635. Corporate insiders own 43.00% of the company’s stock.

Appian Stock Down 0.8 %

Shares of NASDAQ:APPN opened at $30.42 on Thursday. The firm has a 50 day moving average of $29.39 and a 200 day moving average of $33.31. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -24.14 and a beta of 1.83. Appian Co. has a 52 week low of $24.00 and a 52 week high of $43.33.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company had revenue of $166.70 million during the quarter, compared to the consensus estimate of $164.31 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. On average, sell-side analysts expect that Appian Co. will post -0.28 EPS for the current year.

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.