Appian Co. (NASDAQ:APPN) Shares Acquired by Holocene Advisors LP

Holocene Advisors LP grew its holdings in Appian Co. (NASDAQ:APPN - Free Report) by 33.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,097 shares of the company's stock after purchasing an additional 18,729 shares during the period. Holocene Advisors LP owned approximately 0.10% of Appian worth $2,564,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Abdiel Capital Advisors LP lifted its position in 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 buying an additional 4,278,969 shares during the last quarter. Empyrean Capital Partners LP acquired a new position in shares of Appian in the 2nd quarter worth approximately $7,715,000. Edgestream Partners L.P. purchased a new position in shares of Appian during the 2nd quarter worth approximately $4,657,000. BNP Paribas Financial Markets boosted its position 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 buying an additional 99,198 shares during the period. Finally, 272 Capital LP purchased a new position in shares of Appian during the second quarter worth $2,179,000. 52.70% of the stock is owned by institutional investors and hedge funds.

Appian Trading Up 3.0 %

APPN traded up $1.20 on Friday, hitting $40.65. 440,233 shares of the company were exchanged, compared to its average volume of 547,188. The firm has a 50-day moving average price of $35.57 and a two-hundred day moving average price of $32.77. Appian Co. has a twelve month low of $26.28 and a twelve month high of $43.33. The company has a market cap of $3.47 billion, a price-to-earnings ratio of -32.34 and a beta of 1.57.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director William D. Mccarthy sold 700 shares of Appian 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 completion of the sale, the director now directly owns 7,966 shares of the company's stock, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp bought 21,769 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average cost of $31.20 per share, for a total transaction of $679,192.80. Following the acquisition, the insider now directly owns 10,070,799 shares of the company's stock, valued at $314,208,928.80. The trade was a 0.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 101,093 shares of company stock worth $3,246,857. 44.00% of the stock is currently owned by company 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.