Appian Co. (NASDAQ:APPN) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. lessened its position in shares of Appian Co. (NASDAQ:APPN) by 18.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 142,860 shares of the company’s stock after selling 32,015 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Appian were worth $4,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Appian in the 3rd quarter valued at about $29,000. FMR LLC raised its stake in Appian by 199.4% in the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after purchasing an additional 3,953 shares during the last quarter. Entropy Technologies LP acquired a new position in Appian in the 4th quarter valued at about $208,000. Oppenheimer & Co. Inc. acquired a new position in Appian in the 3rd quarter valued at about $266,000. Finally, Creative Planning raised its stake in Appian by 22.3% in the 3rd quarter. Creative Planning now owns 8,197 shares of the company’s stock valued at $280,000 after purchasing an additional 1,493 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Price Performance

APPN opened at $34.10 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 $2.91 billion, a price-to-earnings ratio of -27.95 and a beta of 1.64. The business has a 50-day moving average of $35.02 and a two-hundred day moving average of $34.09.

Insider Transactions at Appian

In other news, Director William D. Mccarthy sold 700 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the sale, the director now owns 7,966 shares in the company, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 44.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on APPN shares. Scotiabank started coverage on shares of Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price for the company. KeyCorp restated a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Finally, Barclays lifted their price target on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.17.

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.