Baillie Gifford & Co. Has $47.34 Million Stock Holdings in Appian Co. (NASDAQ:APPN)

Baillie Gifford & Co. lowered its position in shares of Appian Co. (NASDAQ:APPN) by 4.0% in the third quarter, Holdings Channel reports. The institutional investor owned 1,386,688 shares of the company’s stock after selling 57,079 shares during the period. Baillie Gifford & Co.’s holdings in Appian were worth $47,342,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of APPN. Allspring Global Investments Holdings LLC bought a new position in Appian during the third quarter worth about $29,000. Neo Ivy Capital Management acquired a new position in shares of Appian during the 2nd quarter worth approximately $65,000. Canada Pension Plan Investment Board bought a new position in shares of Appian during the second quarter worth approximately $96,000. nVerses Capital LLC acquired a new stake in shares of Appian in the second quarter valued at approximately $105,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Appian in the second quarter valued at approximately $121,000. Institutional investors own 52.70% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp purchased 10,265 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were bought at an average cost of $33.75 per share, with a total value of $346,443.75. Following the acquisition, the insider now owns 10,179,538 shares of the company’s stock, valued at $343,559,407.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders purchased 491,693 shares of company stock valued at $15,257,122. 44.00% of the stock is currently owned by insiders.

Appian Stock Down 0.8 %

NASDAQ:APPN opened at $39.96 on Wednesday. Appian Co. has a twelve month low of $26.28 and a twelve month high of $43.33. The stock’s 50-day simple moving average is $33.51 and its 200 day simple moving average is $32.21. The firm has a market capitalization of $2.89 billion, a PE ratio of -32.75 and a beta of 1.57.

About Appian

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.