Janus Henderson Group PLC decreased its stake in Appian Corporation (NASDAQ:APPN – Free Report) by 65.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,165 shares of the company’s stock after selling 29,015 shares during the period. Janus Henderson Group PLC’s holdings in Appian were worth $365,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of APPN. State of Wyoming grew its position in shares of Appian by 55.0% in the 4th quarter. State of Wyoming now owns 1,462 shares of the company’s stock valued at $52,000 after buying an additional 519 shares during the last quarter. ProShare Advisors LLC lifted its position in Appian by 7.8% in the fourth quarter. ProShare Advisors LLC now owns 7,481 shares of the company’s stock valued at $265,000 after acquiring an additional 543 shares during the last quarter. Legal & General Group Plc boosted its stake in Appian by 1.7% in the third quarter. Legal & General Group Plc now owns 37,730 shares of the company’s stock valued at $1,153,000 after acquiring an additional 632 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Appian by 4.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,214 shares of the company’s stock valued at $539,000 after acquiring an additional 681 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Appian during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 52.70% of the company’s stock.
Appian Price Performance
Appian stock opened at $35.58 on Tuesday. Appian Corporation has a 12 month low of $18.63 and a 12 month high of $46.06. The business has a 50 day simple moving average of $24.90 and a 200-day simple moving average of $24.36. The stock has a market capitalization of $2.61 billion, a PE ratio of -237.18 and a beta of 0.84.
Insider Transactions at Appian
In other news, CRO Mark Dorsey acquired 5,227 shares of Appian stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average price of $19.13 per share, for a total transaction of $99,992.51. Following the completion of the transaction, the executive directly owned 13,993 shares in the company, valued at approximately $267,686.09. This trade represents a 59.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew W. Calkins sold 50,000 shares of Appian stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $24.72, for a total value of $1,236,000.00. Following the completion of the sale, the chief executive officer directly owned 1,719,144 shares in the company, valued at $42,497,239.68. This represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 42.81% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Citigroup lifted their target price on Appian from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings upgraded Appian from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday. Barclays lifted their price target on Appian from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Friday, May 8th. Zacks Research cut Appian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, TD Cowen decreased their price objective on Appian from $27.00 to $24.00 and set a “hold” rating for the company in a report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $29.67.
View Our Latest Analysis on APPN
About Appian
Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.
The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.
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