Benjamin Edwards Inc. Takes $427,000 Position in Appian Co. (NASDAQ:APPN)

Benjamin Edwards Inc. purchased a new position in shares of Appian Co. (NASDAQ:APPN - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,500 shares of the company's stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Abdiel Capital Advisors LP increased its holdings in shares of Appian by 72.6% in the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company's stock valued at $347,179,000 after purchasing an additional 4,278,969 shares during the last quarter. Empyrean Capital Partners LP acquired a new stake in Appian during the second quarter worth approximately $7,715,000. Edgestream Partners L.P. bought a new stake in shares of Appian during the second quarter worth approximately $4,657,000. BNP Paribas Financial Markets increased its stake in shares of Appian by 282.8% during the third quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company's stock worth $4,584,000 after purchasing an additional 99,198 shares during the period. Finally, 272 Capital LP acquired a new stake in Appian during the 2nd quarter worth approximately $2,179,000. Institutional investors own 52.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on APPN shares. Barclays increased their price objective on Appian from $34.00 to $37.00 and gave the stock an "underweight" rating in a research report on Friday. DA Davidson reiterated a "neutral" rating and issued a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $40.80.

Appian Trading Down 3.0 %

APPN stock traded down $1.23 during mid-day trading on Monday, hitting $39.42. The stock had a trading volume of 346,226 shares, compared to its average volume of 546,496. The firm has a fifty day simple moving average of $35.79 and a 200 day simple moving average of $32.89. The firm has a market capitalization of $3.37 billion, a P/E ratio of -32.31 and a beta of 1.57. Appian Co. has a 52 week low of $26.28 and a 52 week high of $43.33.

Insider Activity at Appian

In other news, 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 completion of the transaction, the director now directly owns 7,966 shares in the company, valued at approximately $308,921.48. This represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average cost of $33.75 per share, for a total transaction of $346,443.75. Following the completion of the purchase, the insider now directly owns 10,179,538 shares of the company's stock, valued at approximately $343,559,407.50. This represents a 0.10 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 78,040 shares of company stock valued at $2,550,195 over the last three months. 44.00% of the stock is owned by insiders.

About Appian

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.