Appian (APPN) Trading Up -6.3%

Appian Corp (NASDAQ:APPN)’s share price was up 6.3% on Tuesday . The stock traded as high as $33.29 and last traded at $31.48. Approximately 832,800 shares traded hands during trading, an increase of 164% from the average daily volume of 315,234 shares. The stock had previously closed at $33.60.

Several equities analysts have recently weighed in on APPN shares. William Blair started coverage on Appian in a report on Monday, November 27th. They set an “outperform” rating on the stock. Zacks Investment Research raised Appian from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday, November 7th. KeyCorp reissued a “hold” rating on shares of Appian in a report on Monday, September 18th. Morgan Stanley increased their price target on Appian from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, November 3rd. Finally, SunTrust Banks started coverage on Appian in a report on Tuesday, November 21st. They set a “buy” rating and a $28.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $22.00.

In other news, major shareholder M James Barrett sold 569,620 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $19.49, for a total value of $11,101,893.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Qualified Master Fund L. Abdiel acquired 65,533 shares of Appian stock in a transaction dated Wednesday, October 25th. The stock was bought at an average price of $22.23 per share, with a total value of $1,456,798.59. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,051,519 shares of company stock valued at $21,602,934 and sold 1,097,222 shares valued at $21,384,857.

Several large investors have recently bought and sold shares of the company. New York State Common Retirement Fund purchased a new stake in Appian in the 3rd quarter worth $205,000. Tower Research Capital LLC TRC purchased a new stake in Appian in the 2nd quarter worth $238,000. Neuberger Berman Group LLC purchased a new stake in Appian in the 2nd quarter worth $292,000. Ameriprise Financial Inc. purchased a new stake in Appian in the 2nd quarter worth $323,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Appian in the 2nd quarter worth $370,000. Hedge funds and other institutional investors own 11.61% of the company’s stock.

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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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