Abdiel Capital Advisors LP Has $347.18 Million Holdings in Appian Co. (NASDAQ:APPN)

Abdiel Capital Advisors LP lifted its stake in shares of Appian Co. (NASDAQ:APPN - Free Report) by 72.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,169,273 shares of the company's stock after acquiring an additional 4,278,969 shares during the period. Appian accounts for about 21.0% of Abdiel Capital Advisors LP's investment portfolio, making the stock its largest position. Abdiel Capital Advisors LP owned 14.06% of Appian worth $347,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in APPN. Allspring Global Investments Holdings LLC purchased a new position in Appian in the third quarter worth $29,000. Neo Ivy Capital Management purchased a new position in Appian in the second quarter valued at approximately $65,000. Canada Pension Plan Investment Board acquired a new stake in Appian in the second quarter worth about $96,000. nVerses Capital LLC bought a new position in Appian in the second quarter worth $105,000. Finally, Point72 Hong Kong Ltd bought a new stake in Appian in the 2nd quarter valued at approximately $121,000. 52.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on APPN. DA Davidson restated a "neutral" rating and issued a $33.00 price target on shares of Appian in a research note on Monday, October 14th. Barclays lifted their price objective on Appian from $29.00 to $34.00 and gave the stock an "underweight" rating in a research note 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 issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $40.20.

Appian Trading Up 2.0 %

Shares of Appian stock traded up $0.76 on Friday, reaching $37.85. 163,334 shares of the stock were exchanged, compared to its average volume of 559,870. The business has a 50 day moving average price of $35.11 and a two-hundred day moving average price of $32.59. Appian Co. has a twelve month low of $26.28 and a twelve month high of $43.33.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp bought 1,486 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $32.98 per share, for a total transaction of $49,008.28. Following the completion of the acquisition, the insider now owns 10,088,411 shares in the company, valued at approximately $332,715,794.78. This represents a 0.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 121,107 shares of company stock valued at $3,871,494 over the last ninety days. 44.00% of the stock is owned by insiders.

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.