Allspring Global Investments Holdings LLC Buys New Holdings in Appian Co. (NASDAQ:APPN)

Allspring Global Investments Holdings LLC acquired a new position in Appian Co. (NASDAQ:APPN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 837 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds have also bought and sold shares of the stock. Creative Planning boosted its position in Appian by 22.3% in the 3rd quarter. Creative Planning now owns 8,197 shares of the company’s stock worth $280,000 after purchasing an additional 1,493 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Appian in the 3rd quarter worth approximately $398,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after purchasing an additional 1,088 shares in the last quarter. Algert Global LLC boosted its position in Appian by 7.7% in the 2nd quarter. Algert Global LLC now owns 50,263 shares of the company’s stock worth $1,551,000 after purchasing an additional 3,614 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Appian by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock worth $648,000 after purchasing an additional 689 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Performance

NASDAQ APPN opened at $38.67 on Wednesday. The business has a fifty day moving average price of $32.82 and a 200 day moving average price of $32.07. Appian Co. has a one year low of $26.28 and a one year high of $42.17. The company has a market cap of $2.80 billion, a P/E ratio of -25.95 and a beta of 1.57.

Analysts Set New Price Targets

Several equities research analysts have commented on APPN shares. Barclays lowered their price objective on Appian from $32.00 to $29.00 and set an “underweight” rating on the stock in a research report on Monday, August 5th. KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. DA Davidson reaffirmed a “neutral” rating and set a $33.00 target price on shares of Appian in a research note on Monday, October 14th. The Goldman Sachs Group reduced their target price on Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.20.

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp bought 75,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $28.15 per share, for a total transaction of $2,111,250.00. Following the acquisition, the insider now directly owns 8,380,847 shares in the company, valued at $235,920,843.05. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased a total of 894,276 shares of company stock worth $27,099,351 in the last three months. 44.00% of the stock is owned by corporate 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.