Virtu Financial LLC Purchases New Stake in Appian Co. (NASDAQ:APPN)

Virtu Financial LLC acquired a new position in shares of Appian Co. (NASDAQ:APPN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,760 shares of the company’s stock, valued at approximately $421,000.

Several other hedge funds have also recently bought and sold shares of 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 worth $2,451,000 after acquiring an additional 53,172 shares in the last quarter. Abdiel Capital Advisors LP increased its stake in shares of Appian by 72.6% in the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock valued at $347,179,000 after purchasing an additional 4,278,969 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Appian by 282.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock worth $4,584,000 after buying an additional 99,198 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Appian by 33.2% during the 3rd quarter. Holocene Advisors LP now owns 75,097 shares of the company’s stock worth $2,564,000 after buying an additional 18,729 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Appian by 14.7% in the fourth 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. 52.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays boosted their target price on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. KeyCorp reissued a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Finally, Scotiabank initiated 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 on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Appian presently has an average rating of “Hold” and an average price target of $37.80.

Insider Activity at Appian

In related news, Director Albert G.W. Biddle III sold 990 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 29,348 shares in the company, valued at $974,647.08. This represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 44.00% of the stock is currently owned by company insiders.

Appian Trading Down 1.6 %

NASDAQ:APPN opened at $31.46 on Thursday. The stock’s 50-day moving average is $32.70 and its 200-day moving average is $34.23. Appian Co. has a 1-year low of $26.28 and a 1-year high of $43.33. The stock has a market cap of $2.33 billion, a P/E ratio of -24.97 and a beta of 1.65.

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

Appian 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.