Harber Asset Management LLC Sells 39,070 Shares of Appian Co. (NASDAQ:APPN)

Harber Asset Management LLC lowered its stake in Appian Co. (NASDAQ:APPN) by 9.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 389,700 shares of the company’s stock after selling 39,070 shares during the period. Appian makes up 4.0% of Harber Asset Management LLC’s holdings, making the stock its 12th biggest holding. Harber Asset Management LLC owned 0.54% of Appian worth $13,304,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Abdiel Capital Advisors LP boosted its position in shares of Appian by 72.6% during 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 in the last quarter. Empyrean Capital Partners LP bought a new stake in Appian during the second quarter worth $7,715,000. Edgestream Partners L.P. bought a new stake in Appian during the second quarter worth $4,657,000. BNP Paribas Financial Markets boosted its holdings in shares of Appian by 282.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock valued at $4,584,000 after purchasing an additional 99,198 shares in the last quarter. Finally, 272 Capital LP bought a new position in shares of Appian in the 2nd quarter valued at $2,179,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of Appian stock in a transaction on Tuesday, October 1st. The shares were purchased at an average price of $33.75 per share, for a total transaction of $346,443.75. Following the transaction, the insider now owns 10,179,538 shares of the company’s stock, valued at approximately $343,559,407.50. This represents a 0.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired 121,107 shares of company stock valued at $3,871,494 in the last ninety days. 44.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on APPN shares. DA Davidson reiterated a “neutral” rating and issued a $33.00 target price on shares of Appian in a research report on Monday, October 14th. Barclays lifted their price target on shares of Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.20.

Appian Stock Performance

NASDAQ:APPN opened at $38.86 on Tuesday. The stock’s 50-day moving average is $35.23 and its 200-day moving average is $32.63. Appian Co. has a 1-year low of $26.28 and a 1-year high of $43.33.

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.