King Luther Capital Management Corp Has $4.89 Million Holdings in Appian Co. (NASDAQ:APPN)

King Luther Capital Management Corp lifted its holdings in Appian Co. (NASDAQ:APPN - Free Report) by 41.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,161 shares of the company's stock after acquiring an additional 41,922 shares during the period. King Luther Capital Management Corp owned approximately 0.20% of Appian worth $4,888,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Crossmark Global Holdings Inc. grew its position in shares of Appian by 3.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company's stock worth $299,000 after purchasing an additional 280 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Appian by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company's stock valued at $648,000 after buying an additional 689 shares during the period. ProShare Advisors LLC grew its position in 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 position in Appian during the 3rd quarter worth $29,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Appian by 35.8% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company's stock worth $127,000 after acquiring an additional 1,088 shares during the period. 52.70% of the stock is owned by institutional investors.

Insider Buying and Selling at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp bought 10,400 shares of the stock in a transaction on Monday, August 26th. The stock was acquired at an average price of $31.74 per share, with a total value of $330,096.00. Following the acquisition, the insider now directly owns 9,837,813 shares in the company, valued at approximately $312,252,184.62. This trade represents a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 154,633 shares of company stock worth $4,924,046 over the last quarter. Corporate insiders own 44.00% of the company's stock.

Appian Stock Up 0.0 %

Shares of APPN stock traded up $0.01 on Friday, reaching $38.56. The company had a trading volume of 457,713 shares, compared to its average volume of 597,248. The business's 50-day moving average is $34.69 and its 200 day moving average is $32.42. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The stock has a market capitalization of $3.29 billion, a PE ratio of -31.61 and a beta of 1.57.

Analyst Upgrades and Downgrades

APPN has been the subject of a number of recent analyst reports. DA Davidson reiterated a "neutral" rating and set a $33.00 target price on shares of Appian in a research report on Monday, October 14th. Barclays increased their price objective on shares of Appian from $29.00 to $34.00 and gave the stock an "underweight" rating in a research note on Friday, November 8th. William Blair cut shares of Appian from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 1st. The Goldman Sachs Group reduced their price target on shares of 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 downgraded 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 given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Appian has a consensus rating of "Hold" and a consensus price target of $40.20.

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.