Abdiel Capital Management, Llc Purchases 5,258 Shares of Appian Corp (APPN) Stock

Appian Corp (NASDAQ:APPN) major shareholder Abdiel Capital Management, Llc acquired 5,258 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were purchased at an average cost of $20.48 per share, for a total transaction of $107,683.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Abdiel Capital Management, Llc also recently made the following trade(s):

  • On Monday, October 23rd, Abdiel Capital Management, Llc acquired 23,443 shares of Appian stock. The shares were purchased at an average cost of $22.24 per share, for a total transaction of $521,372.32.
  • On Monday, September 25th, Abdiel Capital Management, Llc acquired 28,600 shares of Appian stock. The shares were purchased at an average cost of $22.14 per share, for a total transaction of $633,204.00.

Shares of Appian Corp (NASDAQ APPN) opened at $21.14 on Wednesday. Appian Corp has a 52 week low of $14.60 and a 52 week high of $28.65.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Appian by 27.9% during the third quarter. JPMorgan Chase & Co. now owns 585,018 shares of the company’s stock valued at $14,673,000 after purchasing an additional 127,545 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Appian by 24.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 34,348 shares of the company’s stock valued at $977,000 after acquiring an additional 6,828 shares during the last quarter. New York State Common Retirement Fund bought a new position in Appian in the third quarter valued at approximately $205,000. Lord Abbett & CO. LLC bought a new position in Appian in the second quarter valued at approximately $8,134,000. Finally, Tower Research Capital LLC TRC bought a new position in Appian in the second quarter valued at approximately $238,000. 11.61% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Appian from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. William Blair initiated coverage on shares of Appian in a research note on Monday, November 27th. They set an “outperform” rating on the stock. Canaccord Genuity reissued a “hold” rating on shares of Appian in a research note on Monday, November 6th. SunTrust Banks initiated coverage on shares of Appian in a research note on Tuesday, November 21st. They set a “buy” rating and a $28.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of Appian from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $22.00.

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About Appian

Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.

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