King Luther Capital Management Corp Boosts Holdings in Appian Co. (NASDAQ:APPN)

King Luther Capital Management Corp boosted its stake in Appian Co. (NASDAQ:APPN) by 41.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,161 shares of the company’s stock after acquiring an additional 41,922 shares during the period. King Luther Capital Management Corp’s holdings in Appian were worth $4,888,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Appian in the 3rd quarter valued at about $29,000. Neo Ivy Capital Management acquired a new position in Appian in the 2nd quarter valued at about $65,000. Canada Pension Plan Investment Board acquired a new stake in Appian during the 2nd quarter worth approximately $96,000. nVerses Capital LLC purchased a new position in shares of Appian in the 2nd quarter valued at approximately $105,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Appian in the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

Insider Activity at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of Appian stock in a transaction that occurred on Tuesday, October 1st. The shares were purchased at an average cost of $33.75 per share, with a total value of $346,443.75. Following the transaction, the insider now owns 10,179,538 shares of the company’s stock, valued at approximately $343,559,407.50. The trade was a 0.10 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 154,633 shares of company stock worth $4,924,046. 44.00% of the stock is currently owned by corporate insiders.

Appian Stock Up 0.0 %

APPN stock opened at $38.56 on Friday. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -31.61 and a beta of 1.57. The business has a fifty day simple moving average of $34.69 and a 200-day simple moving average of $32.41. Appian Co. has a 52 week low of $26.28 and a 52 week high of $43.33.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. DA Davidson restated a “neutral” rating and issued a $33.00 price objective on shares of Appian in a research report on Monday, October 14th. The Goldman Sachs Group dropped their target price on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Finally, Barclays lifted their price target on Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.