BNP Paribas Financial Markets Grows Stock Position in Appian Co. (NASDAQ:APPN)

BNP Paribas Financial Markets grew its stake in Appian Co. (NASDAQ:APPN - Free Report) by 282.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,274 shares of the company's stock after purchasing an additional 99,198 shares during the period. BNP Paribas Financial Markets owned approximately 0.19% of Appian worth $4,584,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. 272 Capital LP acquired a new position in shares of Appian in the second quarter valued at approximately $2,179,000. Empyrean Capital Partners LP acquired a new position in shares of Appian in the second quarter valued at approximately $7,715,000. AQR Capital Management LLC increased its holdings in shares of Appian by 25.8% in the second quarter. AQR Capital Management LLC now owns 78,150 shares of the company's stock valued at $2,412,000 after purchasing an additional 16,031 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Appian by 88.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company's stock valued at $2,412,000 after purchasing an additional 33,232 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in shares of Appian by 41.4% in the third quarter. King Luther Capital Management Corp now owns 143,161 shares of the company's stock valued at $4,888,000 after purchasing an additional 41,922 shares during the period. Institutional investors and hedge funds own 52.70% of the company's stock.

Insider Activity

In other news, Director William D. Mccarthy sold 700 shares of the company's 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 directly owns 7,966 shares in the company, valued at $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp acquired 23,053 shares of Appian stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $30.22 per share, for a total transaction of $696,661.66. Following the completion of the transaction, the insider now directly owns 10,036,046 shares of the company's stock, valued at approximately $303,289,310.12. This represents a 0.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 121,107 shares of company stock worth $3,871,494 over the last three months. 44.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on APPN shares. DA Davidson reissued a "neutral" rating and issued a $33.00 target price on shares of Appian in a report on Monday, October 14th. Barclays upped their price objective on Appian from $29.00 to $34.00 and gave the stock an "underweight" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $40.20.

Appian Price Performance

Appian stock traded up $1.84 during trading hours on Wednesday, hitting $40.45. The stock had a trading volume of 281,480 shares, compared to its average volume of 546,537. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -33.59 and a beta of 1.57. Appian Co. has a 1-year low of $26.28 and a 1-year high of $43.33. The stock's fifty day moving average is $35.35 and its two-hundred day moving average is $32.66.

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.