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

272 Capital LP cut its holdings in Appian Co. (NASDAQ:APPN - Free Report) by 97.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,000 shares of the company's stock after selling 68,621 shares during the quarter. 272 Capital LP's holdings in Appian were worth $68,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Appian in the 3rd quarter valued at approximately $29,000. Neo Ivy Capital Management acquired a new stake in Appian in the second quarter worth $65,000. Canada Pension Plan Investment Board bought a new position in shares of Appian during the second quarter worth $96,000. nVerses Capital LLC acquired a new position in shares of Appian in the 2nd quarter valued at $105,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Appian in the 2nd quarter valued at $121,000. 52.70% of the stock is owned by institutional investors.

Appian Stock Up 2.0 %

APPN traded up $0.76 during trading on Friday, hitting $37.85. The company had a trading volume of 163,334 shares, compared to its average volume of 559,870. The company has a market capitalization of $3.23 billion, a PE ratio of -31.02 and a beta of 1.57. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The firm's 50-day moving average price is $35.11 and its 200 day moving average price is $32.59.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APPN shares. DA Davidson reiterated a "neutral" rating and set a $33.00 target price on shares of Appian in a report on Monday, October 14th. Barclays raised their price target on Appian from $29.00 to $34.00 and gave the stock an "underweight" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Appian presently has an average rating of "Hold" and a consensus target price of $40.20.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 23,053 shares of the business's stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $30.22 per share, with a total value of $696,661.66. Following the acquisition, the insider now owns 10,036,046 shares in the company, valued at $303,289,310.12. This represents a 0.23 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 121,107 shares of company stock worth $3,871,494 over the last three months. Corporate insiders own 44.00% of the company's stock.

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.