State Street Corp Sells 25,403 Shares of Appian Co. (NASDAQ:APPN)

State Street Corp lessened its holdings in shares of Appian Co. (NASDAQ:APPN) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,020,139 shares of the company’s stock after selling 25,403 shares during the quarter. State Street Corp’s holdings in Appian were worth $34,828,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of Appian by 10.0% in 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Appian by 36.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,280 shares of the company’s stock worth $348,000 after buying an additional 2,993 shares during the period. Crossmark Global Holdings Inc. boosted its position in Appian by 3.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock valued at $299,000 after acquiring an additional 280 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Appian during the 2nd quarter worth approximately $105,000. Finally, Rhumbline Advisers raised its position in shares of Appian by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock worth $1,845,000 after acquiring an additional 1,386 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Trading Up 2.2 %

Appian stock opened at $35.28 on Friday. Appian Co. has a 12 month low of $26.28 and a 12 month high of $43.33. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -28.92 and a beta of 1.57. The business’s fifty day simple moving average is $36.51 and its two-hundred day simple moving average is $33.30.

Insider Buying and Selling

In other news, Director William D. Mccarthy sold 700 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the transaction, the director now owns 7,966 shares in the company, valued at $308,921.48. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Abdiel Capital Advisors, Lp acquired 15,552 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were bought at an average cost of $33.08 per share, with a total value of $514,460.16. Following the completion of the acquisition, the insider now directly owns 10,142,000 shares of the company’s stock, valued at $335,497,360. The trade was a 0.15 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 27,529 shares of company stock worth $917,246 in the last quarter. Corporate insiders own 44.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APPN. DA Davidson reaffirmed a “neutral” rating and issued a $33.00 price target on shares of Appian in a research note on Monday, October 14th. Barclays upped their target price on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.80.

Appian 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.