Atom Investors LP Reduces Stock Holdings in Appian Co. (NASDAQ:APPN)

Atom Investors LP lessened its holdings in shares of Appian Co. (NASDAQ:APPN) by 69.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Appian by 5.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,097 shares of the company’s stock valued at $1,203,000 after buying an additional 1,494 shares during the period. Neo Ivy Capital Management acquired a new position in Appian in the second quarter valued at approximately $65,000. Bank of New York Mellon Corp boosted its position in Appian by 10.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock worth $4,443,000 after purchasing an additional 13,046 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Appian by 36.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,280 shares of the company’s stock worth $348,000 after purchasing an additional 2,993 shares during the period. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Appian by 3.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock valued at $299,000 after purchasing an additional 280 shares in the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on APPN. Barclays increased their price target on shares of Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. DA Davidson reissued a “neutral” rating and set a $33.00 target price on shares of Appian in a research note on Monday, October 14th. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.20.

Appian Stock Performance

Shares of NASDAQ APPN opened at $38.61 on Wednesday. The firm has a market cap of $3.30 billion, a PE ratio of -31.65 and a beta of 1.57. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The firm has a fifty day moving average of $35.35 and a 200 day moving average of $32.66.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was purchased at an average cost of $33.75 per share, for a total transaction of $346,443.75. Following the completion of the transaction, the insider now owns 10,179,538 shares of the company’s stock, valued at $343,559,407.50. This trade represents a 0.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William D. Mccarthy sold 700 shares of the firm’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 position. The disclosure for this sale can be found here. Insiders purchased 121,107 shares of company stock valued at $3,871,494 over the last 90 days. Corporate insiders own 44.00% of the company’s stock.

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.