Baillie Gifford & Co. Sells 57,079 Shares of Appian Co. (NASDAQ:APPN)

Baillie Gifford & Co. reduced its position in shares of Appian Co. (NASDAQ:APPN) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,386,688 shares of the company’s stock after selling 57,079 shares during the period. Baillie Gifford & Co. owned about 1.92% of Appian worth $47,342,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of APPN. Crossmark Global Holdings Inc. boosted its position in Appian by 3.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after acquiring an additional 280 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Appian by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock worth $648,000 after purchasing an additional 689 shares during the last quarter. ProShare Advisors LLC grew its position in 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 purchasing an additional 758 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Appian in the 3rd quarter valued at $29,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after buying an additional 1,088 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 10,265 shares of Appian stock in a transaction on Tuesday, October 1st. The stock was purchased at an average cost of $33.75 per share, with a total value of $346,443.75. Following the completion of the transaction, the insider now directly owns 10,179,538 shares in the company, valued at $343,559,407.50. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have acquired 491,693 shares of company stock valued at $15,257,122. 44.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on APPN shares. DA Davidson restated a “neutral” rating and issued a $33.00 price objective on shares of Appian in a report on Monday, October 14th. KeyCorp downgraded Appian from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group dropped their price objective on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Finally, Barclays boosted their target price on shares of Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.20.

Appian Stock Down 0.8 %

NASDAQ:APPN opened at $39.96 on Wednesday. Appian Co. has a 12-month low of $26.28 and a 12-month high of $43.33. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of -32.75 and a beta of 1.57. The stock’s 50 day moving average price is $33.51 and its two-hundred day moving average price is $32.21.

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.