Arete Wealth Advisors LLC Acquires Shares of 8,525 Appian Co. (NASDAQ:APPN)

Arete Wealth Advisors LLC bought a new stake in shares of Appian Co. (NASDAQ:APPN) in the third quarter, Holdings Channel reports. The firm bought 8,525 shares of the company’s stock, valued at approximately $291,000.

A number of other institutional investors also recently modified their holdings of APPN. 272 Capital LP bought a new stake in shares of Appian in the 2nd quarter valued at approximately $2,179,000. Empyrean Capital Partners LP acquired a new stake in Appian in the second quarter valued at approximately $7,715,000. AQR Capital Management LLC grew its position in Appian by 25.8% in the second quarter. AQR Capital Management LLC now owns 78,150 shares of the company’s stock worth $2,412,000 after acquiring an additional 16,031 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Appian by 88.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company’s stock worth $2,412,000 after purchasing an additional 33,232 shares during the last quarter. Finally, King Luther Capital Management Corp raised its holdings in shares of Appian by 41.4% during the 3rd quarter. King Luther Capital Management Corp now owns 143,161 shares of the company’s stock valued at $4,888,000 after purchasing an additional 41,922 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Insider Buying and Selling at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 10,265 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were bought at an average price of $33.75 per share, for a total transaction of $346,443.75. Following the acquisition, the insider now owns 10,179,538 shares in the company, valued at $343,559,407.50. This trade represents a 0.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 121,107 shares of company stock valued at $3,871,494 in the last 90 days. 44.00% of the stock is currently owned by insiders.

Appian Price Performance

APPN stock opened at $37.85 on Friday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -31.02 and a beta of 1.57. The company has a 50-day moving average of $35.11 and a two-hundred day moving average of $32.60. Appian Co. has a 52-week low of $26.28 and a 52-week high of $43.33.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on APPN shares. Barclays upped their price objective on shares of Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. DA Davidson reaffirmed a “neutral” rating and issued a $33.00 price target on shares of Appian in a research report on Monday, October 14th. KeyCorp lowered Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Finally, 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 report on Friday, August 2nd. One 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’s stock. According to data from MarketBeat, Appian has a consensus rating of “Hold” and an average target price of $40.20.

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.