Baillie Gifford & Co. Cuts Stock Position in Appian Co. (NASDAQ:APPN)

Baillie Gifford & Co. trimmed its stake in Appian Co. (NASDAQ:APPN - Free Report) by 4.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,386,688 shares of the company's stock after selling 57,079 shares during the period. Baillie Gifford & Co. owned about 1.92% of Appian worth $47,342,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Appian by 8.4% during 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. Empyrean Capital Partners LP acquired a new position in shares of Appian in the second quarter valued at approximately $7,715,000. CANADA LIFE ASSURANCE Co increased its stake in Appian by 70.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company's stock worth $18,922,000 after buying an additional 196,435 shares during the period. Edgestream Partners L.P. acquired a new stake in Appian during the 2nd quarter worth approximately $4,657,000. Finally, 272 Capital LP acquired a new stake in Appian during the 2nd quarter worth approximately $2,179,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Stock Down 0.0 %

Appian stock traded down $0.01 during mid-day trading on Wednesday, hitting $39.95. The company had a trading volume of 684,911 shares, compared to its average volume of 552,394. Appian Co. has a 1 year low of $26.28 and a 1 year high of $43.33. The business has a fifty day moving average of $33.68 and a 200 day moving average of $32.22. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of -32.75 and a beta of 1.57.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 23,053 shares of Appian stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average cost of $30.22 per share, with a total value of $696,661.66. Following the completion of the transaction, the insider now directly owns 10,036,046 shares in the company, valued at approximately $303,289,310.12. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 491,693 shares of company stock worth $15,257,122. Corporate insiders own 44.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APPN. William Blair lowered Appian from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 1st. KeyCorp lowered Appian from an "overweight" rating to a "sector weight" rating in a research report on Friday, August 2nd. Barclays boosted their price objective on Appian from $29.00 to $34.00 and gave the stock an "underweight" rating in a research report on Friday, November 8th. The Goldman Sachs Group decreased their price target on shares of Appian from $47.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, August 2nd. Finally, DA Davidson reissued a "neutral" rating and issued a $33.00 price objective on shares of Appian in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $40.20.

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.