Insider Selling: Appian (NASDAQ:APPN) CEO Sells 30,000 Shares of Stock

Appian Corporation (NASDAQ:APPN) CEO Matthew Calkins sold 30,000 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $51.98, for a total value of $1,559,400.00. Following the transaction, the chief executive officer directly owned 1,554,144 shares of the company’s stock, valued at approximately $80,784,405.12. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Appian Stock Down 0.9%

NASDAQ APPN traded down $0.45 during trading on Monday, hitting $51.15. 1,461,455 shares of the stock traded hands, compared to its average volume of 970,595. The company has a market capitalization of $3.66 billion, a P/E ratio of -639.38 and a beta of 0.83. The firm has a 50-day simple moving average of $41.54 and a 200-day simple moving average of $29.54. Appian Corporation has a 12-month low of $18.63 and a 12-month high of $56.38.

Appian (NASDAQ:APPN) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.18. The business had revenue of $234.63 million for the quarter, compared to the consensus estimate of $216.94 million. Appian had a negative return on equity of 47.34% and a negative net margin of 0.72%. The company’s revenue was up 25.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. Appian has set its FY 2026 guidance at 1.200-1.240 EPS and its Q4 2026 guidance at 0.300-0.340 EPS. As a group, research analysts predict that Appian Corporation will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Appian

A number of institutional investors and hedge funds have recently modified their holdings of the stock. RPD Fund Management LLC purchased a new stake in Appian during the 1st quarter valued at $94,496,000. Lead Edge Capital Management LLC lifted its position in Appian by 18.5% in the first quarter. Lead Edge Capital Management LLC now owns 1,905,634 shares of the company’s stock worth $45,945,000 after buying an additional 296,845 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Appian by 16.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,519,653 shares of the company’s stock worth $36,639,000 after buying an additional 215,183 shares during the period. First Trust Advisors LP boosted its stake in Appian by 16.9% during the first quarter. First Trust Advisors LP now owns 1,355,961 shares of the company’s stock worth $32,692,000 after buying an additional 196,021 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Appian by 21.5% during the third quarter. Russell Investments Group Ltd. now owns 333,280 shares of the company’s stock worth $11,764,000 after buying an additional 58,866 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on APPN shares. TD Cowen boosted their price target on shares of Appian from $30.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday, November 3rd. Weiss Ratings raised shares of Appian from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 3rd. William Blair raised shares of Appian from a “hold” rating to an “outperform” rating in a research note on Thursday. Zacks Research downgraded shares of Appian from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Finally, Citigroup upped their target price on shares of Appian from $40.00 to $69.00 and gave the company a “buy” rating in a research report on Friday. 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 company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $44.33.

About Appian

Appian Corporation develops a low-code platform that helps organizations build and manage business applications and automate complex processes. Its offerings combine application development tools with capabilities for workflow automation, case management, robotic process automation, and process mining.

Founded in 1999 by Matt Calkins, Appian serves businesses and government organizations in a range of industries, including financial services, insurance, healthcare, life sciences, and the public sector.