Scalar Gauge Management LLC Cuts Holdings in Appian Co. (NASDAQ:APPN)

Scalar Gauge Management LLC lowered its stake in shares of Appian Co. (NASDAQ:APPNFree Report) by 29.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 73,000 shares of the company’s stock after selling 30,000 shares during the period. Appian accounts for 1.3% of Scalar Gauge Management LLC’s portfolio, making the stock its 19th largest position. Scalar Gauge Management LLC’s holdings in Appian were worth $2,492,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Appian in the 3rd quarter worth about $29,000. Neo Ivy Capital Management bought a new stake in Appian in the 2nd quarter worth approximately $65,000. Canada Pension Plan Investment Board purchased a new stake in Appian in the second quarter worth approximately $96,000. nVerses Capital LLC purchased a new stake in Appian in the second quarter worth approximately $105,000. Finally, Point72 Hong Kong Ltd bought a new position in Appian during the second quarter valued at approximately $121,000. 52.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp bought 1,486 shares of Appian stock in a transaction on Monday, September 16th. The shares were purchased at an average price of $32.98 per share, for a total transaction of $49,008.28. Following the acquisition, the insider now owns 10,088,411 shares of the company’s stock, valued at approximately $332,715,794.78. The trade was a 0.01 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased 121,107 shares of company stock worth $3,871,494 over the last three months. Company insiders own 44.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group cut their target price on shares of Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. DA Davidson reiterated a “neutral” rating and set a $33.00 price target on shares of Appian in a report on Monday, October 14th. Finally, Barclays raised their price target on shares of Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. One 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.20.

View Our Latest Report on APPN

Appian Trading Up 2.0 %

NASDAQ:APPN opened at $37.85 on Friday. The company has a 50-day moving average price of $35.11 and a 200-day moving average price of $32.60. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of -31.02 and a beta of 1.57. Appian Co. has a 12 month low of $26.28 and a 12 month high of $43.33.

Appian Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding APPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Appian Co. (NASDAQ:APPNFree Report).

Institutional Ownership by Quarter for Appian (NASDAQ:APPN)

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