Y Intercept Hong Kong Ltd Sells 107,370 Shares of Appian Corporation $APPN

Y Intercept Hong Kong Ltd cut its holdings in Appian Corporation (NASDAQ:APPN) by 80.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,304 shares of the company’s stock after selling 107,370 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Appian were worth $804,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Appian in the 3rd quarter worth $468,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Appian during the 3rd quarter valued at about $467,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Appian in the 3rd quarter valued at about $1,084,000. Bayforest Capital Ltd purchased a new position in Appian in the third quarter worth about $224,000. Finally, SG Americas Securities LLC grew its position in Appian by 140.1% in the third quarter. SG Americas Securities LLC now owns 40,436 shares of the company’s stock worth $1,236,000 after acquiring an additional 23,593 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on APPN. Citigroup restated a “buy” rating on shares of Appian in a research report on Tuesday, January 27th. Barclays decreased their price target on Appian from $37.00 to $34.00 and set an “underweight” rating on the stock in a report on Monday, January 12th. Zacks Research downgraded Appian from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 9th. TD Cowen reaffirmed a “hold” rating on shares of Appian in a research note on Thursday, November 6th. Finally, Morgan Stanley raised shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research note on Monday, January 12th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Appian has an average rating of “Hold” and a consensus target price of $38.40.

Appian Stock Down 3.9%

Shares of Appian stock opened at $26.82 on Tuesday. The stock’s fifty day moving average is $35.08 and its two-hundred day moving average is $32.85. Appian Corporation has a 52 week low of $24.00 and a 52 week high of $46.06. The company has a market capitalization of $1.98 billion, a PE ratio of -268.17 and a beta of 0.90.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, November 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.27. The business had revenue of $187.00 million for the quarter, compared to the consensus estimate of $174.11 million. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. As a group, research analysts anticipate that Appian Corporation will post -0.28 earnings per share for the current year.

Appian Profile

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.