Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Appian Corp (APPN)

205 + Investors. Track Smart Money conviction in APPN. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -41
Streak
1Q ▼
Buyers last Q
42%

Smart Money Signals — APPN

Based on 206 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their APPN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 83% of 3.0Y peak

83% of all-time peak
206 funds currently hold this stock — 83% of the 3.0-year high of 247 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 6% fewer funds vs a year ago

fund count last 6Q
13 fewer hedge funds hold APPN compared to a year ago (-6% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 42% buying

109 buying151 selling
Last quarter: 151 funds reduced or exited vs 109 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-18 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 38 → 43 → 55 → 37. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 23% medium ■ 17% new
123 out of 206 hedge funds have held APPN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +5%, value -29%

Value
-29%
Shares
+5%
Last quarter: funds added +5% more shares while total portfolio value only changed -29%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

48 → 38 → 43 → 55 → 37 new funds/Q
New funds entering each quarter: 38 → 43 → 55 → 37. A growing number of institutions are discovering APPN each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 71% of holders stayed 2+ years

■ 71% veterans ■ 10% 1-2yr ■ 19% new
Of 221 current holders: 156 (71%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅

Strong quality — 34% AUM from major funds

34% from top-100 AUM funds
42 of 206 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.0
out of 10
Low Exit Risk
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — APPN

In 2026 Q1, 109 hedge funds were net buyers of APPN (37 opened a new position, 72 added to an existing one), while 151 reduced or exited (73 trimmed, 78 sold completely) — a 42% buyer ratio, indicating roughly balanced activity. 34% of total institutional value in APPN is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -41 funds (more exits than new entries). Total institutional holders: 206.

Hedge Fund Ownership: APPN

How many hedge funds hold APPN — quarterly history vs. share price
Quarterly hedge fund ownership of APPN vs. share price

Market Analysis: APPN

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: APPN

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Appian Corp (APPN) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much APPN has moved relative to its sector benchmark (XLK) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 79d ago
APPN
-10.6%
XLK
+39.8%

APPN outperformed XLK by -50.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
APPN
+10.4%
XLK
+5.4%

Since the filing became public, APPN outperformed XLK by +5.0% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

22 top-rated funds 2 high-conviction
Consensus
5.9
/ 10
breadth
×
Elite
2.2
/ 10
conviction
Hedge Fund Positioning: APPN
205 + Investors

Track Smart Money conviction in APPN. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 205 247 -17.0%
13F Shares 40M 38M 4.98%
Total Value $951M $1.35B -29.49%
New Positions 36 55 -19
Increased Positions 67 90 -23
Closed Positions 78 41 +37
Reduced Positions 72 72 -
Total Calls 9 6 50.0%
Total Puts 9 6 50.0%
PUT/CALL Ratio 1.0 1.0 Neutral

Statistics: APPN

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
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Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

205 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in APPN. Verified SEC 13F-HR filings.

QUARTER:
Top 25 APPN holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 RPD Fund Management LLC 30.89% 3,919,356 $94.5M
2 Fivespan Partners, LP 22.43% 3,510,907 $84.6M
3 Lead Edge Capital Management, LLC 11.26% 1,905,634 $45.9M
4 Mudita Advisors LLP 4.13% 839,400 $20.2M
5 Harber Asset Management LLC 2.27% 147,426 $3.6M
6 Tejara Capital Ltd 1.38% 173,300 $4.2M
7 Prelude Capital Management, LLC 0.72% 390,321 $9.4M
8 Bayforest Capital Ltd 0.27% 9,868 $238K
9 EntryPoint Capital, LLC 0.24% 33,463 $807K
10 nVerses Capital, LLC 0.19% 8,446 $204K
11 Nebula Research & Development LLC 0.17% 67,731 $2.0M
12 National Philanthropic Trust 0.17% 281,682 $8.7M
13 Fox Run Management, L.L.C. 0.15% 35,887 $855K
14 Fonville Wealth Management LLC 0.11% 24,533 $591K
15 PDT Partners, LLC 0.07% 47,089 $1.1M
16 Cim Investment Management Inc 0.06% 9,642 $232K
17 Jacobs Levy Equity Management, Inc 0.06% 603,430 $14.5M
18 Trexquant Investment LP 0.05% 305,943 $7.4M
19 Atom Investors LP 0.04% 25,634 $618K
20 Engineers Gate Manager LP 0.04% 130,979 $3.2M
21 Essential Partners LLC 0.04% 4,431 $107K
22 Axq Capital, LP 0.03% 10,954 $264K
23 State of Wyoming 0.03% 9,953 $240K
24 ExodusPoint Capital Management, LP 0.03% 146,023 $3.5M
25 Boothbay Fund Management, LLC 0.02% 75,160 $1.8M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Appian Corp (APPN)

What does the Smart Money Trend signal show for APPN?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their APPN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for APPN?

More sellers than buyers — 42% buying: Last quarter: 151 funds reduced or exited vs 109 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for APPN holders?

Strong quality — 34% AUM from major funds: 42 of 206 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held APPN?

60% of holders stayed for 2+ years: 123 out of 206 hedge funds have held APPN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Appian Corp (APPN) following the 2026 Q1 hedge fund 13F filings?

As of today, APPN has moved +10.4% since the 2026 Q1 13F filing date (May 15, 2026), compared to +5.4% for the XLK sector ETF — an outperformance of +5.0%. Since the quarter end (March 31, 2026), APPN has gained -10.6% vs +39.8% for XLK. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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