Advantage Alpha Capital Partners LP Has $2.96 Million Position in Appian Co. (NASDAQ:APPN)

Advantage Alpha Capital Partners LP cut its stake in Appian Co. (NASDAQ:APPN - Free Report) by 64.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,587 shares of the company's stock after selling 157,348 shares during the quarter. Advantage Alpha Capital Partners LP owned 0.12% of Appian worth $2,956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Appian by 8.4% in the first quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company's stock worth $203,008,000 after purchasing an additional 392,190 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Appian by 1.2% in the third 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 bought a new stake in shares of Appian in the second quarter worth about $7,715,000. Edgestream Partners L.P. acquired a new stake in shares of Appian during the second quarter worth about $4,657,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Appian by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company's stock valued at $4,443,000 after purchasing an additional 13,046 shares in the last quarter. Institutional investors own 52.70% of the company's stock.

Insider Activity at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp bought 23,126 shares of the company's stock in a transaction dated Wednesday, August 28th. The shares were bought at an average cost of $31.24 per share, with a total value of $722,456.24. Following the acquisition, the insider now owns 9,882,783 shares in the company, valued at $308,738,140.92. This trade represents a 0.23 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders purchased 144,233 shares of company stock valued at $4,593,950. Insiders own 44.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on APPN. Barclays raised their target price on shares of Appian from $29.00 to $34.00 and gave the stock an "underweight" rating in a report on Friday, November 8th. KeyCorp cut shares of Appian from an "overweight" rating to a "sector weight" rating in a research report on Friday, August 2nd. DA Davidson reiterated a "neutral" rating and set a $33.00 target price on shares of Appian in a report on Monday, October 14th. The Goldman Sachs Group cut their price target on Appian from $47.00 to $41.00 and set a "buy" rating on the stock in a report on Friday, August 2nd. Finally, William Blair downgraded Appian from an "outperform" rating to a "market perform" rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Appian presently has an average rating of "Hold" and a consensus price target of $40.20.

Appian Trading Down 1.8 %

Shares of NASDAQ APPN traded down $0.68 during mid-day trading on Tuesday, hitting $37.67. The company had a trading volume of 324,635 shares, compared to its average volume of 551,427. The firm has a 50-day simple moving average of $34.79 and a two-hundred day simple moving average of $32.47. The company has a market capitalization of $3.22 billion, a PE ratio of -31.43 and a beta of 1.57. Appian Co. has a one year low of $26.28 and a one year high of $43.33.

Appian Company 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.