Appian Co. (NASDAQ:APPN) Shares Sold by Atom Investors LP

Atom Investors LP lessened its stake in Appian Co. (NASDAQ:APPN) by 69.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 14,422 shares of the company’s stock after selling 33,450 shares during the period. Atom Investors LP’s holdings in Appian were worth $492,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Abdiel Capital Advisors LP increased its stake in shares of Appian by 72.6% in the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after acquiring an additional 4,278,969 shares during the last quarter. 272 Capital LP acquired a new stake in Appian during the second quarter worth about $2,179,000. Empyrean Capital Partners LP purchased a new position in Appian during the second quarter worth about $7,715,000. AQR Capital Management LLC raised its stake in Appian by 25.8% during the second quarter. AQR Capital Management LLC now owns 78,150 shares of the company’s stock worth $2,412,000 after purchasing an additional 16,031 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Appian by 88.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company’s stock valued at $2,412,000 after buying an additional 33,232 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Insider Activity at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the transaction, the director now owns 7,966 shares in the company, valued at $308,921.48. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp acquired 23,053 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were bought at an average cost of $30.22 per share, for a total transaction of $696,661.66. Following the transaction, the insider now directly owns 10,036,046 shares of the company’s stock, valued at approximately $303,289,310.12. This trade represents a 0.23 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 121,107 shares of company stock worth $3,871,494. 44.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on APPN. DA Davidson reaffirmed a “neutral” rating and set a $33.00 price target on shares of Appian in a research report on Monday, October 14th. Barclays upped their price target on Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Appian has a consensus rating of “Hold” and an average target price of $40.20.

Appian Stock Down 0.6 %

Shares of NASDAQ APPN opened at $38.61 on Wednesday. Appian Co. has a 52-week low of $26.28 and a 52-week high of $43.33. The business’s 50 day moving average is $35.35 and its two-hundred day moving average is $32.66. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -31.65 and a beta of 1.57.

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.