Geode Capital Management LLC Has $32.70 Million Stock Position in Appian Co. (NASDAQ:APPN)

Geode Capital Management LLC lifted its holdings in shares of Appian Co. (NASDAQ:APPN) by 0.6% during the third quarter, Holdings Channel.com reports. The firm owned 957,493 shares of the company’s stock after acquiring an additional 5,772 shares during the quarter. Geode Capital Management LLC’s holdings in Appian were worth $32,695,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of APPN. Allspring Global Investments Holdings LLC bought a new stake in shares of Appian in the 3rd quarter valued at about $29,000. Canada Pension Plan Investment Board acquired a new position in shares of Appian in the second quarter worth approximately $96,000. nVerses Capital LLC bought a new stake in Appian in the second quarter valued at approximately $105,000. Point72 Hong Kong Ltd acquired a new stake in Appian during the 2nd quarter valued at approximately $121,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after purchasing an additional 1,088 shares during the period. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on APPN shares. Barclays lifted their target price on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. DA Davidson reissued a “neutral” rating and issued a $33.00 price objective on shares of Appian in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.80.

Insider Transactions at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was acquired at an average price of $33.75 per share, for a total transaction of $346,443.75. Following the purchase, the insider now owns 10,179,538 shares of the company’s stock, valued at $343,559,407.50. This trade represents a 0.10 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William D. Mccarthy sold 700 shares of the firm’s 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 completion of the transaction, the director now directly 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. 44.00% of the stock is owned by insiders.

Appian Trading Down 0.7 %

NASDAQ:APPN opened at $34.51 on Thursday. Appian Co. has a 12 month low of $26.28 and a 12 month high of $43.33. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -28.29 and a beta of 1.57. The firm has a fifty day simple moving average of $36.64 and a two-hundred day simple moving average of $33.47.

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.