Brevan Howard Capital Management LP Increases Stock Holdings in Appian Co. (NASDAQ:APPN)

Brevan Howard Capital Management LP lifted its stake in shares of Appian Co. (NASDAQ:APPN) by 27.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,609 shares of the company’s stock after buying an additional 4,208 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Appian were worth $647,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of APPN. Arrowstreet Capital Limited Partnership purchased a new stake in Appian in the fourth quarter valued at $4,918,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Appian by 184.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 201,245 shares of the company’s stock valued at $6,637,000 after purchasing an additional 130,606 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Appian by 418.8% in the 4th quarter. JPMorgan Chase & Co. now owns 160,793 shares of the company’s stock valued at $5,303,000 after purchasing an additional 129,800 shares during the period. Norges Bank purchased a new position in Appian during the 4th quarter worth approximately $4,046,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Appian during the fourth quarter worth approximately $2,806,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock in a transaction on Wednesday, April 2nd. The stock was 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 of the company’s stock, valued at approximately $298,788,539.76. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Albert G.W. Biddle III sold 990 shares of the company’s stock in a transaction on Monday, February 24th. The shares were 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 directly owns 29,348 shares in the company, valued at $974,647.08. This trade represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 240,510 shares of company stock worth $6,648,635 over the last 90 days. Company insiders own 43.00% of the company’s stock.

Appian Stock Up 5.3 %

Shares of NASDAQ:APPN opened at $32.03 on Friday. The company has a 50-day moving average price of $29.40 and a 200 day moving average price of $33.32. Appian Co. has a 52 week low of $24.00 and a 52 week high of $43.33. The company has a market cap of $2.37 billion, a P/E ratio of -25.42 and a beta of 1.83.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. During the same period in the prior year, the firm earned ($0.24) EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts expect that Appian Co. will post -0.28 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on APPN shares. Scotiabank decreased their price objective on Appian from $37.00 to $34.00 and set a “sector perform” rating for the company in a report on Thursday, April 24th. KeyCorp restated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. DA Davidson decreased their target price on shares of Appian from $40.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Citigroup lowered their price target on Appian from $53.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Finally, Morgan Stanley reduced their price objective on Appian from $35.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $34.14.

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.