Baillie Gifford & Co. Has $31.01 Million Stock Holdings in Appian Corporation (NASDAQ:APPN)

Baillie Gifford & Co. reduced its holdings in Appian Corporation (NASDAQ:APPN) by 1.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,076,198 shares of the company’s stock after selling 18,854 shares during the quarter. Baillie Gifford & Co.’s holdings in Appian were worth $31,005,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new stake in shares of Appian in the fourth quarter worth $35,000. Concord Wealth Partners increased its position in Appian by 21.7% during the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company’s stock valued at $74,000 after purchasing an additional 461 shares during the period. Canada Pension Plan Investment Board raised its holdings in Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after purchasing an additional 500 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company’s stock worth $125,000 after purchasing an additional 3,498 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Appian in the 4th quarter worth approximately $181,000. Institutional investors own 52.70% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of Appian stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $31.83, for a total transaction of $9,549,000.00. Following the completion of the transaction, the insider directly owned 8,430,391 shares in the company, valued at $268,339,345.53. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 2,018,625 shares of company stock worth $64,544,615 in the last 90 days. Corporate insiders own 43.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on APPN. DA Davidson upgraded shares of Appian to a “hold” rating in a research report on Tuesday. Barclays upped their price target on shares of Appian from $28.00 to $33.00 and gave the company an “underweight” rating in a research report on Friday, May 9th. Morgan Stanley lifted their price objective on Appian from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Citigroup boosted their price objective on Appian from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Scotiabank decreased their target price on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.50.

Appian Price Performance

Shares of Appian stock opened at $29.61 on Friday. The business has a 50-day simple moving average of $30.29 and a 200 day simple moving average of $31.00. Appian Corporation has a one year low of $24.00 and a one year high of $43.33. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -35.67 and a beta of 1.72.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $166.43 million for the quarter, compared to the consensus estimate of $163.27 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Appian Corporation 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.