Bryce Point Capital LLC Makes New $451,000 Investment in Appian Co. (NASDAQ:APPN)

Bryce Point Capital LLC purchased a new position in shares of Appian Co. (NASDAQ:APPN) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 13,664 shares of the company’s stock, valued at approximately $451,000.

Several other institutional investors and hedge funds have also recently modified their holdings of APPN. KLP Kapitalforvaltning AS purchased a new stake in shares of Appian in the 4th quarter valued at approximately $181,000. FMR LLC grew its position in Appian by 199.4% in the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after acquiring an additional 3,953 shares during the period. Entropy Technologies LP purchased a new stake in Appian in the fourth quarter valued at $208,000. Magnetar Financial LLC purchased a new stake in Appian in the fourth quarter valued at $249,000. Finally, Summit Global Investments acquired a new position in shares of Appian in the 4th quarter valued at $256,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on APPN. Scotiabank started coverage on shares of Appian in a research note on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price for the company. KeyCorp restated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Finally, Barclays boosted their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.80.

Appian Price Performance

APPN stock opened at $26.40 on Friday. The business’s 50-day moving average is $32.07 and its two-hundred day moving average is $34.06. Appian Co. has a 1 year low of $25.77 and a 1 year high of $43.33. The firm has a market capitalization of $1.95 billion, a P/E ratio of -20.95 and a beta of 1.78.

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

Insider Transactions at Appian

In other news, Director Albert G.W. Biddle III sold 990 shares of the business’s stock in a transaction that occurred on 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 owns 29,348 shares in the company, valued at approximately $974,647.08. The trade was a 3.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $29.52, for a total transaction of $1,711,422.00. Following the completion of the transaction, the insider now directly owns 10,121,563 shares in the company, valued at $298,788,539.76. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,493 shares of company stock valued at $3,824,507. Corporate insiders own 44.00% of the company’s stock.

About Appian

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.