Holocene Advisors LP Grows Position in Appian Co. (NASDAQ:APPN)

Holocene Advisors LP raised its stake in shares of Appian Co. (NASDAQ:APPN) by 33.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,097 shares of the company’s stock after purchasing an additional 18,729 shares during the period. Holocene Advisors LP owned 0.10% of Appian worth $2,564,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of APPN. Abdiel Capital Advisors LP raised its position in shares of Appian by 72.6% in the 3rd 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Appian by 1.2% in 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 during the period. Empyrean Capital Partners LP purchased a new position in shares of Appian in the 2nd quarter worth about $7,715,000. Edgestream Partners L.P. acquired a new position in shares of Appian in the 2nd quarter valued at about $4,657,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Appian by 10.0% during the 2nd 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 period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Down 3.1 %

APPN opened at $39.45 on Friday. The firm’s 50 day moving average is $35.57 and its 200-day moving average is $32.77. Appian Co. has a 52-week low of $26.28 and a 52-week high of $43.33. The firm has a market capitalization of $3.37 billion, a P/E ratio of -32.34 and a beta of 1.57.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 23,053 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price 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 in the company, valued at approximately $303,289,310.12. This represents a 0.23 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Mccarthy sold 700 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total transaction of $27,146.00. Following the transaction, the director now owns 7,966 shares in the company, valued at $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 101,093 shares of company stock valued at $3,246,857 in the last quarter. Company insiders own 44.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on APPN. Barclays lifted their price target on shares of Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. DA Davidson restated a “neutral” rating and set a $33.00 target price on shares of Appian in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Appian has a consensus rating of “Hold” and a consensus target price of $40.20.

Appian Company 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.