Geode Capital Management LLC Has $32.70 Million Stock Position in Appian Co. (NASDAQ:APPN)

Geode Capital Management LLC boosted its holdings in shares of Appian Co. (NASDAQ:APPN) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 957,493 shares of the company’s stock after buying an additional 5,772 shares during the quarter. Geode Capital Management LLC owned approximately 1.32% of Appian worth $32,695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Abdiel Capital Advisors LP increased its holdings 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 during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Appian by 282.8% in the third 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 during the last quarter. Empyrean Capital Partners LP bought a new position in shares of Appian in the second quarter valued at about $7,715,000. 272 Capital LP acquired a new stake in shares of Appian during the 2nd quarter worth about $2,179,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Appian by 88.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company’s stock worth $2,412,000 after buying an additional 33,232 shares during the period. Institutional investors own 52.70% of the company’s stock.

Insider Activity

In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of the stock in a transaction dated Tuesday, October 1st. The stock was bought at an average price of $33.75 per share, with a total value of $346,443.75. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William D. Mccarthy sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the sale, the director now owns 7,966 shares in the company, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 44.00% of the company’s stock.

Appian Trading Down 0.7 %

Shares of APPN stock opened at $34.51 on Thursday. The stock has a 50 day simple moving average of $36.64 and a 200 day simple moving average of $33.47. Appian Co. has a 1 year low of $26.28 and a 1 year high of $43.33. The stock has a market cap of $2.95 billion, a P/E ratio of -28.29 and a beta of 1.57.

Analysts Set New Price Targets

Several research firms have weighed in on APPN. DA Davidson reissued a “neutral” rating and issued a $33.00 price target on shares of Appian in a report on Monday, October 14th. Barclays lifted their price target on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.80.

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.