Fmr LLC Raises Holdings in Appian Co. (NASDAQ:APPN)

Fmr LLC grew its holdings in Appian Co. (NASDAQ:APPN) by 199.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,935 shares of the company’s stock after buying an additional 3,953 shares during the quarter. Fmr LLC’s holdings in Appian were worth $203,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Appian by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company’s stock valued at $11,432,000 after acquiring an additional 3,817 shares during the period. Empyrean Capital Partners LP purchased a new position in Appian in the 2nd quarter valued at approximately $7,715,000. Edgestream Partners L.P. acquired a new position in Appian during the second quarter worth $4,657,000. Bank of New York Mellon Corp boosted its position in Appian by 10.0% during the second 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. Finally, King Luther Capital Management Corp grew its holdings in Appian by 41.4% in the third quarter. King Luther Capital Management Corp now owns 143,161 shares of the company’s stock valued at $4,888,000 after purchasing an additional 41,922 shares during the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp acquired 10,265 shares of Appian stock in a transaction dated Tuesday, October 1st. The stock was bought 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 in the company, valued at approximately $343,559,407.50. This trade represents a 0.10 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the transaction, the director now owns 7,966 shares in the company, valued at approximately $308,921.48. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders bought 27,529 shares of company stock valued at $917,246 in the last ninety days. Company insiders own 44.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on APPN. DA Davidson reissued a “neutral” rating and set a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. Barclays raised their price target on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. One equities research 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 a consensus rating of “Hold” and a consensus price target of $40.80.

Appian Stock Performance

NASDAQ APPN opened at $35.28 on Friday. The company has a 50-day simple moving average of $36.51 and a 200-day simple moving average of $33.34. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The firm has a market capitalization of $3.01 billion, a PE ratio of -28.92 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.