272 Capital LP Sells 68,621 Shares of Appian Co. (NASDAQ:APPN)

272 Capital LP lowered its stake in Appian Co. (NASDAQ:APPN - Free Report) by 97.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the company's stock after selling 68,621 shares during the period. 272 Capital LP's holdings in Appian were worth $68,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Arete Wealth Advisors LLC acquired a new position in Appian in the 3rd quarter worth about $291,000. Geode Capital Management LLC raised its holdings in Appian by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 957,493 shares of the company's stock valued at $32,695,000 after buying an additional 5,772 shares during the last quarter. Barclays PLC boosted its position in Appian by 285.9% during the 3rd quarter. Barclays PLC now owns 71,771 shares of the company's stock worth $2,451,000 after buying an additional 53,172 shares during the period. Holocene Advisors LP grew its holdings in Appian by 33.2% during the 3rd quarter. Holocene Advisors LP now owns 75,097 shares of the company's stock worth $2,564,000 after acquiring an additional 18,729 shares during the last quarter. Finally, Benjamin Edwards Inc. acquired a new position in Appian in the 3rd quarter valued at approximately $427,000. Institutional investors own 52.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on APPN. Barclays raised their price target on shares of Appian from $34.00 to $37.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. DA Davidson reissued a "neutral" rating and issued a $33.00 price target 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 given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $40.80.

Appian Trading Down 4.3 %

Shares of NASDAQ:APPN traded down $1.65 during mid-day trading on Friday, reaching $36.82. The company had a trading volume of 307,111 shares, compared to its average volume of 542,136. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The company's 50-day moving average price is $36.08 and its 200-day moving average price is $33.02. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -30.57 and a beta of 1.57.

Insiders Place Their Bets

In related news, major shareholder Abdiel Capital Advisors, Lp bought 1,712 shares of the business's stock in a transaction on Wednesday, September 25th. The stock was acquired at an average price of $32.91 per share, for a total transaction of $56,341.92. Following the purchase, the insider now directly owns 10,169,273 shares in the company, valued at $334,670,774.43. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director now owns 7,966 shares of the company's stock, valued at $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders acquired 48,770 shares of company stock worth $1,625,495 over the last quarter. 44.00% of the stock is currently owned by company insiders.

About Appian

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.