MetLife Investment Management LLC Sells 1,279 Shares of Appian Co. (NASDAQ:APPN)

MetLife Investment Management LLC lowered its stake in Appian Co. (NASDAQ:APPN) by 5.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,516 shares of the company’s stock after selling 1,279 shares during the quarter. MetLife Investment Management LLC’s holdings in Appian were worth $769,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted 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 valued at $11,432,000 after acquiring an additional 3,817 shares in the last quarter. Empyrean Capital Partners LP bought a new position in Appian in the second quarter valued at about $7,715,000. Edgestream Partners L.P. acquired a new stake in shares of Appian during the second quarter valued at about $4,657,000. Bank of New York Mellon Corp grew its holdings in shares of Appian by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock worth $4,443,000 after purchasing an additional 13,046 shares during the last quarter. Finally, King Luther Capital Management Corp grew its holdings 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 worth $4,888,000 after purchasing an additional 41,922 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. 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 lifted their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $40.80.

Appian Price Performance

Shares of APPN stock opened at $40.65 on Friday. The stock has a market capitalization of $3.47 billion, a PE ratio of -33.32 and a beta of 1.57. The business’s 50 day simple moving average is $35.68 and its 200 day simple moving average is $32.83. Appian Co. has a one year low of $26.28 and a one year high of $43.33.

Insider Transactions at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp purchased 23,053 shares of the company’s stock in a transaction on Monday, September 9th. The stock was acquired at an average cost of $30.22 per share, for a total transaction of $696,661.66. Following the completion of the purchase, the insider now owns 10,036,046 shares of the company’s stock, valued at approximately $303,289,310.12. This trade represents a 0.23 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 101,093 shares of company stock worth $3,246,857. Company insiders own 44.00% of the company’s stock.

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.