Stanley Laman Group Ltd. Reduces Stock Holdings in Appian Co. (NASDAQ:APPN)

Stanley Laman Group Ltd. reduced its stake in Appian Co. (NASDAQ:APPN) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,860 shares of the company’s stock after selling 32,015 shares during the period. Stanley Laman Group Ltd. owned 0.17% of Appian worth $4,712,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in APPN. Abdiel Capital Advisors LP increased its stake in Appian by 72.6% in the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock valued at $347,179,000 after purchasing an additional 4,278,969 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Appian by 282.8% during the third quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock worth $4,584,000 after acquiring an additional 99,198 shares during the last quarter. Barclays PLC grew its position in shares of Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after acquiring an additional 53,172 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Appian by 354.7% during the third quarter. GSA Capital Partners LLP now owns 57,630 shares of the company’s stock worth $1,967,000 after acquiring an additional 44,957 shares during the last quarter. Finally, King Luther Capital Management Corp grew its position in shares of Appian by 41.4% during the third quarter. King Luther Capital Management Corp now owns 143,161 shares of the company’s stock worth $4,888,000 after acquiring an additional 41,922 shares during the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on APPN shares. Barclays raised 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. KeyCorp restated a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Finally, Scotiabank assumed coverage on shares of Appian in a research report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Appian presently has a consensus rating of “Hold” and an average price target of $40.17.

Appian Stock Performance

Appian stock opened at $34.10 on Thursday. Appian Co. has a one year low of $26.28 and a one year high of $43.33. The business has a fifty day moving average of $35.02 and a two-hundred day moving average of $34.09. The company has a market cap of $2.91 billion, a P/E ratio of -27.95 and a beta of 1.64.

Insider Buying and Selling at Appian

In other news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction on 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 transaction, the director now owns 7,966 shares of the company’s stock, valued at $308,921.48. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 44.00% of the stock is owned by corporate insiders.

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.