Barclays PLC Increases Stake in Appian Co. (NASDAQ:APPN)

Barclays PLC boosted its holdings in shares of Appian Co. (NASDAQ:APPN - Free Report) by 285.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,771 shares of the company's stock after acquiring an additional 53,172 shares during the period. Barclays PLC owned 0.08% of Appian worth $2,451,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in APPN. Allspring Global Investments Holdings LLC bought a new position in Appian in the 3rd quarter valued at approximately $29,000. Canada Pension Plan Investment Board purchased a new stake in Appian in the second quarter worth approximately $96,000. nVerses Capital LLC purchased a new stake in Appian during the 2nd quarter valued at $105,000. Point72 Hong Kong Ltd purchased a new position in shares of Appian in the 2nd quarter worth $121,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company's stock valued at $127,000 after acquiring an additional 1,088 shares during the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APPN has been the subject of a number of recent research reports. Barclays boosted their price target on Appian from $34.00 to $37.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. DA Davidson reiterated a "neutral" rating and set a $33.00 price target on shares of Appian in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Appian currently has an average rating of "Hold" and an average target price of $40.80.

Insider Buying and Selling

In related news, Director William D. Mccarthy sold 700 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total transaction of $27,146.00. Following the sale, the director now owns 7,966 shares of the company's stock, valued at $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Abdiel Capital Advisors, Lp acquired 10,265 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was acquired at an average cost of $33.75 per share, with a total value of $346,443.75. Following the completion of the purchase, the insider now directly owns 10,179,538 shares in the company, valued at approximately $343,559,407.50. This represents a 0.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 44.00% of the stock is owned by company insiders.

Appian Trading Up 0.3 %

APPN traded up $0.12 on Thursday, hitting $34.63. 293,721 shares of the company's stock traded hands, compared to its average volume of 536,423. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The company's 50 day simple moving average is $36.71 and its 200-day simple moving average is $33.48. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -28.39 and a beta of 1.57.

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.