Allspring Global Investments Holdings LLC Makes New $29,000 Investment in Appian Co. (NASDAQ:APPN)

Allspring Global Investments Holdings LLC bought a new position in shares of Appian Co. (NASDAQ:APPN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 837 shares of the company’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Crossmark Global Holdings Inc. lifted its position in shares of Appian by 3.0% during the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after purchasing an additional 280 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Appian by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock valued at $648,000 after acquiring an additional 689 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Appian by 10.0% in the first quarter. ProShare Advisors LLC now owns 8,337 shares of the company’s stock valued at $333,000 after acquiring an additional 758 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after acquiring an additional 1,088 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Appian by 2.4% in the second quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock valued at $1,845,000 after acquiring an additional 1,386 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APPN has been the subject of several recent research reports. DA Davidson restated a “neutral” rating and issued a $33.00 price objective on shares of Appian in a report on Monday, October 14th. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. Barclays decreased their price objective on Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a report on Monday, August 5th. The Goldman Sachs Group reduced their target price on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, KeyCorp downgraded shares of Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.20.

Insider Transactions at Appian

In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 53,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $27.92 per share, for a total transaction of $1,479,760.00. Following the completion of the purchase, the insider now owns 8,433,847 shares of the company’s stock, valued at approximately $235,473,008.24. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 894,276 shares of company stock worth $27,099,351. Insiders own 44.00% of the company’s stock.

Appian Stock Performance

Shares of Appian stock opened at $38.67 on Wednesday. The company has a market capitalization of $2.80 billion, a PE ratio of -25.95 and a beta of 1.57. The company has a 50-day simple moving average of $32.82 and a two-hundred day simple moving average of $32.07. Appian Co. has a one year low of $26.28 and a one year high of $42.17.

Appian Company 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.