Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Appian Co. (NASDAQ:APPN - Free Report) by 88.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,639 shares of the company's stock after purchasing an additional 33,232 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of Appian worth $2,412,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Crossmark Global Holdings Inc. raised its holdings in shares of Appian by 3.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company's stock worth $299,000 after buying an additional 280 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Appian by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company's stock valued at $648,000 after purchasing an additional 689 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Appian in the third quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. grew its stake in Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company's stock worth $127,000 after buying an additional 1,088 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Appian by 2.4% during the second quarter. Rhumbline Advisers now owns 59,779 shares of the company's stock worth $1,845,000 after buying an additional 1,386 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on APPN shares. Barclays raised their price target on shares of Appian from $29.00 to $34.00 and gave the company an "underweight" rating in a report on Friday, November 8th. 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 research note on Friday, August 2nd. William Blair downgraded shares of Appian from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 1st. KeyCorp lowered shares of Appian from an "overweight" rating to a "sector weight" rating in a research note on Friday, August 2nd. Finally, DA Davidson reissued a "neutral" rating and set a $33.00 price target on shares of Appian in a research note on Monday, October 14th. 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 company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $40.20.
View Our Latest Stock Analysis on Appian
Insider Buying and Selling
In other Appian news, major shareholder Abdiel Capital Advisors, Lp acquired 1,486 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average cost of $32.98 per share, for a total transaction of $49,008.28. Following the transaction, the insider now owns 10,088,411 shares of the company's stock, valued at $332,715,794.78. This trade represents a 0.01 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have acquired 144,233 shares of company stock valued at $4,593,950. 44.00% of the stock is owned by company insiders.
Appian Price Performance
APPN traded down $0.21 during mid-day trading on Monday, hitting $38.35. The stock had a trading volume of 783,307 shares, compared to its average volume of 552,421. The stock's fifty day simple moving average is $34.79 and its 200-day simple moving average is $32.47. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -31.43 and a beta of 1.57. Appian Co. has a 1-year low of $26.28 and a 1-year high of $43.33.
About Appian
(
Free Report)
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.
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