Appian Co. (NASDAQ:APPN) Stock Position Raised by Arizona State Retirement System

Arizona State Retirement System lifted its stake in shares of Appian Co. (NASDAQ:APPN – Get Rating) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,822 shares of the company’s stock after acquiring an additional 386 shares during the quarter. Arizona State Retirement System’s holdings in Appian were worth $320,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of APPN. Renaissance Technologies LLC bought a new stake in shares of Appian during the 1st quarter worth $13,983,000. Vanguard Group Inc. lifted its holdings in shares of Appian by 3.7% in the third quarter. Vanguard Group Inc. now owns 3,856,902 shares of the company’s stock valued at $157,477,000 after purchasing an additional 138,431 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Appian in the third quarter valued at $4,190,000. StackLine Partners LP lifted its holdings in shares of Appian by 13.0% in the third quarter. StackLine Partners LP now owns 604,139 shares of the company’s stock valued at $24,667,000 after purchasing an additional 69,655 shares in the last quarter. Finally, Prelude Capital Management LLC lifted its holdings in shares of Appian by 77.3% in the third quarter. Prelude Capital Management LLC now owns 99,449 shares of the company’s stock valued at $4,061,000 after purchasing an additional 43,355 shares in the last quarter. 50.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on APPN shares. Truist Financial increased their target price on Appian from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, February 17th. Barclays increased their target price on Appian from $25.00 to $30.00 in a report on Friday, February 17th. KeyCorp increased their target price on Appian from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, February 17th. Finally, Morgan Stanley increased their price objective on Appian from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Friday, February 17th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Appian currently has an average rating of “Hold” and an average target price of $45.89.

Insider Transactions at Appian

In related news, Director Mark Steven Lynch sold 1,393 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $43.17, for a total value of $60,135.81. Following the transaction, the director now directly owns 36,237 shares of the company’s stock, valued at approximately $1,564,351.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Abdiel Capital Advisors, Lp bought 6,444 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was purchased at an average price of $43.65 per share, with a total value of $281,280.60. Following the transaction, the insider now directly owns 10,121,954 shares in the company, valued at $441,823,292.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark Steven Lynch sold 1,393 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $43.17, for a total value of $60,135.81. Following the completion of the sale, the director now directly owns 36,237 shares in the company, valued at $1,564,351.29. The disclosure for this sale can be found here. 43.50% of the stock is currently owned by corporate insiders.

Appian Price Performance

Shares of NASDAQ:APPN opened at $41.13 on Tuesday. Appian Co. has a 1 year low of $29.80 and a 1 year high of $57.47. The business has a fifty day simple moving average of $39.42 and a 200 day simple moving average of $38.82. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.23. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -18.12 and a beta of 1.62.

Appian Company Profile

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Appian Corp. engages in the provision of business process management (BPM) solutions. Its products include BPM software, case management, mobile application development, and platform-as-a-service. The company was founded by Matthew Wheeler Calkins, Robert Charles Kramer, Marc Wilson, and Michael Beckley in 1999 and is headquartered in McLean, VA.