Atom Investors LP Has $492,000 Stake in Appian Co. (NASDAQ:APPN)

Atom Investors LP lowered its position in Appian Co. (NASDAQ:APPN - Free Report) by 69.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,422 shares of the company's stock after selling 33,450 shares during the quarter. Atom Investors LP's holdings in Appian were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Appian during the third quarter worth about $29,000. Neo Ivy Capital Management purchased a new stake in shares of Appian in the second quarter worth about $65,000. Canada Pension Plan Investment Board purchased a new stake in shares of Appian in the second quarter worth about $96,000. nVerses Capital LLC purchased a new stake in shares of Appian in the second quarter worth about $105,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Appian in the second quarter worth about $121,000. Institutional investors and hedge funds own 52.70% of the company's stock.

Appian Stock Up 5.5 %

Shares of NASDAQ:APPN traded up $2.12 during trading on Wednesday, hitting $40.73. 619,001 shares of the company traded hands, compared to its average volume of 548,006. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -33.39 and a beta of 1.57. The business's fifty day moving average is $35.48 and its 200-day moving average is $32.72. Appian Co. has a one year low of $26.28 and a one year high of $43.33.

Insider Activity

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 10,265 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was acquired at an average cost of $33.75 per share, for a total transaction of $346,443.75. Following the completion of the acquisition, the insider now owns 10,179,538 shares in the company, valued at approximately $343,559,407.50. The trade was a 0.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William D. Mccarthy sold 700 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total value of $27,146.00. Following the sale, the director now owns 7,966 shares of the company's stock, valued at approximately $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 121,107 shares of company stock worth $3,871,494. Insiders own 44.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays boosted their price target on Appian from $29.00 to $34.00 and gave the stock an "underweight" rating in a research note on Friday, November 8th. DA Davidson restated a "neutral" rating and set a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $40.20.

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.