King Luther Capital Management Corp Boosts Stock Holdings in Appian Co. (NASDAQ:APPN)

King Luther Capital Management Corp raised its stake in Appian Co. (NASDAQ:APPN - Free Report) by 41.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,161 shares of the company's stock after acquiring an additional 41,922 shares during the quarter. King Luther Capital Management Corp owned about 0.20% of Appian worth $4,888,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of APPN. Crossmark Global Holdings Inc. increased its stake in shares of Appian by 3.0% during the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company's stock worth $299,000 after purchasing an additional 280 shares during the period. The Manufacturers Life Insurance Company increased its position in Appian by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company's stock worth $648,000 after buying an additional 689 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Appian by 10.0% during the first quarter. ProShare Advisors LLC now owns 8,337 shares of the company's stock worth $333,000 after buying an additional 758 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Appian in the third quarter valued at about $29,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Appian by 35.8% in 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 in the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Stock Up 0.0 %

APPN stock opened at $38.56 on Friday. Appian Co. has a 52-week low of $26.28 and a 52-week high of $43.33. The company has a fifty day moving average price of $34.69 and a 200-day moving average price of $32.41.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. DA Davidson reissued a "neutral" rating and issued a $33.00 price objective on shares of Appian in a report on Monday, October 14th. William Blair lowered Appian from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 1st. Barclays upped their target price on Appian from $29.00 to $34.00 and gave the company an "underweight" rating in a research report on Friday, November 8th. The Goldman Sachs Group decreased their price target on Appian from $47.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. Finally, KeyCorp cut shares of Appian from an "overweight" rating to a "sector weight" rating in a research report on Friday, August 2nd. One 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $40.20.

Insider Buying and Selling

In other news, major shareholder Abdiel Capital Advisors, Lp purchased 23,053 shares of the business's stock in a transaction on Monday, September 9th. The shares were acquired at an average price of $30.22 per share, with a total value of $696,661.66. Following the completion of the transaction, the insider now owns 10,036,046 shares of the company's stock, valued at $303,289,310.12. The trade was a 0.23 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 154,633 shares of company stock valued at $4,924,046 in the last three months. Insiders own 44.00% of the company's stock.

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.