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.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.watchlistnews.com/55800-shares-in-appian-corporation-appn-acquired-by-franklin-resources-inc/1602360.html.

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.

Institutional Ownership by Quarter for Appian Corporation (NASDAQ:APPN)

Receive News & Ratings for Appian Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.