Stanley Laman Group Ltd. Sells 32,015 Shares of Appian Co. (NASDAQ:APPN)

Stanley Laman Group Ltd. cut its stake in Appian Co. (NASDAQ:APPN - Free Report) by 18.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,860 shares of the company's stock after selling 32,015 shares during the period. Stanley Laman Group Ltd. owned approximately 0.17% of Appian worth $4,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Abdiel Capital Advisors LP grew its position in Appian by 72.6% during the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company's stock worth $347,179,000 after buying an additional 4,278,969 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Appian by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 957,493 shares of the company's stock worth $32,695,000 after purchasing an additional 5,772 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Appian by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company's stock worth $11,432,000 after purchasing an additional 3,817 shares in the last quarter. King Luther Capital Management Corp increased its position in shares of Appian by 41.4% during 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. Finally, BNP Paribas Financial Markets raised its stake in shares of Appian by 282.8% in the third quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company's stock valued at $4,584,000 after purchasing an additional 99,198 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Trading Down 5.5 %

Shares of Appian stock traded down $1.84 during trading on Monday, reaching $31.65. The company's stock had a trading volume of 565,512 shares, compared to its average volume of 340,731. The stock has a market capitalization of $2.70 billion, a P/E ratio of -25.94 and a beta of 1.64. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The stock has a 50-day moving average price of $34.58 and a two-hundred day moving average price of $34.01.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Appian in a report on Monday, January 6th. They set a "sector perform" rating and a $37.00 price objective for the company. KeyCorp reiterated a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. Finally, Barclays boosted their target price on shares of Appian from $34.00 to $37.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Appian presently has an average rating of "Hold" and a consensus target price of $40.17.

Insider Activity

In other news, Director William D. Mccarthy sold 700 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction 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. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 44.00% of the stock is owned by insiders.

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.