Creative Planning Increases Stock Holdings in Appian Co. (NASDAQ:APPN)

Creative Planning boosted its position in shares of Appian Co. (NASDAQ:APPN) by 22.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,197 shares of the company’s stock after acquiring an additional 1,493 shares during the quarter. Creative Planning’s holdings in Appian were worth $280,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Neo Ivy Capital Management purchased a new position in shares of Appian in the 2nd quarter valued at about $65,000. Canada Pension Plan Investment Board purchased a new position in shares of Appian in the 2nd quarter valued at about $96,000. nVerses Capital LLC purchased a new position in shares of Appian in the 2nd quarter valued at about $105,000. Point72 Hong Kong Ltd purchased a new position in shares of Appian in the 2nd quarter valued at about $121,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after buying an additional 1,088 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. DA Davidson reiterated a “neutral” rating and issued a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. The Goldman Sachs Group cut their target price on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. William Blair lowered Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. KeyCorp lowered Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Finally, Barclays raised their target price on Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Appian currently has a consensus rating of “Hold” and an average price target of $40.20.

Appian Stock Down 1.9 %

APPN opened at $40.78 on Friday. 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 is $33.35 and its two-hundred day moving average is $32.24.

Appian (NASDAQ:APPN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.24. The company had revenue of $154.05 million for the quarter, compared to analyst estimates of $150.94 million. Appian had a negative return on equity of 532.05% and a negative net margin of 18.80%. Sell-side analysts forecast that Appian Co. will post -1.08 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were bought at an average price of $33.75 per share, with a total value of $346,443.75. Following the completion of the transaction, the insider now directly owns 10,179,538 shares in the company, valued at approximately $343,559,407.50. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 819,276 shares of company stock valued at $24,988,101 over the last quarter. Company 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.