Harber Asset Management LLC Has $13.30 Million Stake in Appian Co. (NASDAQ:APPN)

Harber Asset Management LLC reduced its holdings in shares of Appian Co. (NASDAQ:APPN) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 389,700 shares of the company’s stock after selling 39,070 shares during the period. Appian accounts for approximately 4.0% of Harber Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Harber Asset Management LLC’s holdings in Appian were worth $13,304,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Appian during the third quarter worth approximately $29,000. Neo Ivy Capital Management acquired a new stake in shares of Appian during the 2nd quarter worth approximately $65,000. Canada Pension Plan Investment Board bought a new stake in shares of Appian in the 2nd quarter valued at $96,000. nVerses Capital LLC acquired a new position in shares of Appian during the 2nd quarter valued at $105,000. Finally, Point72 Hong Kong Ltd bought a new position in Appian during the second quarter worth $121,000. 52.70% of the stock is owned by institutional investors.

Appian Trading Up 2.7 %

Shares of NASDAQ APPN opened at $38.86 on Tuesday. The company has a 50-day moving average price of $35.23 and a 200-day moving average price of $32.63. Appian Co. has a 1 year low of $26.28 and a 1 year high of $43.33.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 23,053 shares of Appian stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $30.22 per share, for a total transaction of $696,661.66. Following the completion of the transaction, the insider now owns 10,036,046 shares in the company, valued at $303,289,310.12. This represents a 0.23 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 121,107 shares of company stock valued at $3,871,494 in the last three months. 44.00% of the stock is currently owned by insiders.

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.