Appian (NASDAQ:APPN) Sets New 1-Year Low at $28.35

Appian Co. (NASDAQ:APPN) shares reached a new 52-week low during trading on Thursday . The company traded as low as $28.35 and last traded at $29.06, with a volume of 459224 shares changing hands. The stock had previously closed at $36.73.

Analyst Ratings Changes

A number of research firms recently commented on APPN. Barclays upped their price objective on Appian from $35.00 to $36.00 and gave the company an “underweight” rating in a report on Monday, April 15th. DA Davidson cut their target price on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. William Blair reaffirmed an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. KeyCorp increased their target price on Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Citigroup increased their target price on Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Appian currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.86.

Appian Price Performance

The stock has a market cap of $2.17 billion, a PE ratio of -19.82 and a beta of 1.46. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The company’s 50 day moving average is $36.75 and its 200-day moving average is $36.61.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.33. Appian had a negative net margin of 20.43% and a negative return on equity of 127.40%. The company had revenue of $145.32 million during the quarter, compared to the consensus estimate of $140.41 million. As a group, sell-side analysts predict that Appian Co. will post -0.9 earnings per share for the current year.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp sold 400,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.44, for a total value of $12,976,000.00. Following the transaction, the insider now directly owns 5,890,304 shares in the company, valued at approximately $191,081,461.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 43.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Capstone Investment Advisors LLC acquired a new position in shares of Appian in the first quarter valued at $748,000. Baillie Gifford & Co. lifted its position in Appian by 5.6% during the first quarter. Baillie Gifford & Co. now owns 1,756,419 shares of the company’s stock worth $70,169,000 after purchasing an additional 93,251 shares during the period. Concord Wealth Partners bought a new stake in Appian during the first quarter worth about $85,000. Principal Financial Group Inc. bought a new stake in Appian during the first quarter worth about $220,000. Finally, Los Angeles Capital Management LLC lifted its position in Appian by 14.1% during the first quarter. Los Angeles Capital Management LLC now owns 23,285 shares of the company’s stock worth $930,000 after purchasing an additional 2,881 shares during the period. Institutional investors own 52.70% 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.