Advantage Alpha Capital Partners LP Sells 157,348 Shares of Appian Co. (NASDAQ:APPN)

Advantage Alpha Capital Partners LP trimmed its holdings in Appian Co. (NASDAQ:APPN) by 64.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,587 shares of the company’s stock after selling 157,348 shares during the period. Advantage Alpha Capital Partners LP owned approximately 0.12% of Appian worth $2,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in Appian during the 3rd quarter valued at about $29,000. Neo Ivy Capital Management purchased a new position in Appian during the second quarter valued at approximately $65,000. Canada Pension Plan Investment Board bought a new stake in Appian during the 2nd quarter worth approximately $96,000. nVerses Capital LLC purchased a new stake in Appian in the 2nd quarter worth approximately $105,000. Finally, Point72 Hong Kong Ltd bought a new position in Appian in the 2nd quarter valued at $121,000. Institutional investors own 52.70% of the company’s stock.

Appian Price Performance

Shares of APPN opened at $38.35 on Tuesday. The firm has a market cap of $3.27 billion, a P/E ratio of -31.43 and a beta of 1.57. Appian Co. has a 1 year low of $26.28 and a 1 year high of $43.33. The stock has a 50 day simple moving average of $34.79 and a two-hundred day simple moving average of $32.47.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on APPN shares. William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. Barclays raised their price target on Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a report on Friday, November 8th. KeyCorp lowered Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. DA Davidson restated a “neutral” rating and issued a $33.00 price objective on shares of Appian in a research report on Monday, October 14th. Finally, The Goldman Sachs Group dropped their target price on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research 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 company’s stock. According to data from MarketBeat.com, Appian currently has an average rating of “Hold” and an average target price of $40.20.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 1,486 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of $32.98 per share, for a total transaction of $49,008.28. Following the completion of the acquisition, the insider now owns 10,088,411 shares in the company, valued at approximately $332,715,794.78. This represents a 0.01 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders acquired 144,233 shares of company stock valued at $4,593,950. Corporate insiders own 44.00% of the company’s stock.

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.