55,800 Shares in Appian Corporation (APPN) Acquired by Franklin Resources Inc.
Franklin Resources Inc. acquired a new position in Appian Corporation (NASDAQ:APPN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 55,800 shares of the company’s stock, valued at approximately $1,013,000. Franklin Resources Inc. owned about 0.16% of Appian Corporation at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Appian Corporation during the 2nd quarter worth $499,000. JPMorgan Chase & Co. bought a new position in Appian Corporation in the 2nd quarter valued at $8,303,000. Eagle Asset Management Inc. bought a new position in Appian Corporation in the 2nd quarter valued at $2,716,000. Neuberger Berman Group LLC bought a new position in Appian Corporation in the 2nd quarter valued at $292,000. Finally, LMR Partners LLP bought a new position in Appian Corporation in the 2nd quarter valued at $201,000. Hedge funds and other institutional investors own 11.61% of the company’s stock.
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Appian Corporation (NASDAQ APPN) opened at 28.46 on Monday. The firm’s market capitalization is $1.71 billion. Appian Corporation has a one year low of $14.60 and a one year high of $28.65. The company has a 50-day moving average of $22.60 and a 200 day moving average of $20.31.
In other Appian Corporation news, major shareholder Qualified Master Fund L. Abdiel bought 28,800 shares of Appian Corporation stock in a transaction on Tuesday, September 26th. The shares were purchased at an average cost of $22.14 per share, with a total value of $637,632.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel bought 127,217 shares of Appian Corporation stock in a transaction on Thursday, July 6th. The shares were acquired at an average cost of $17.57 per share, for a total transaction of $2,235,202.69. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 667,360 shares of company stock valued at $12,789,878.
Several equities research analysts have recently commented on APPN shares. Barclays PLC began coverage on Appian Corporation in a research note on Monday, June 19th. They issued an “equal weight” rating and a $19.00 target price for the company. Pacific Crest initiated coverage on Appian Corporation in a research note on Monday, June 19th. They set a “sector weight” rating on the stock. Zacks Investment Research raised Appian Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, September 5th. KeyCorp reiterated a “hold” rating on shares of Appian Corporation in a report on Monday, September 18th. Finally, Cowen and Company initiated coverage on Appian Corporation in a report on Monday, June 19th. They issued an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Appian Corporation currently has a consensus rating of “Hold” and a consensus target price of $20.80.
Appian Corporation Profile
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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