Appian Co. (NASDAQ:APPN) Given Average Recommendation of “Hold” by Analysts

Appian Co. (NASDAQ:APPN) has been assigned an average recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $40.80.

APPN has been the topic of several recent analyst reports. DA Davidson restated a “neutral” rating and set a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. Barclays raised their price objective on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th.

Appian Stock Down 3.8 %

Shares of APPN opened at $37.93 on Wednesday. Appian has a 12-month low of $26.28 and a 12-month high of $43.33. The business’s fifty day moving average is $35.79 and its 200 day moving average is $32.89. The stock has a market cap of $3.24 billion, a P/E ratio of -31.09 and a beta of 1.57.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 1,486 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was purchased at an average price of $32.98 per share, for a total transaction of $49,008.28. Following the transaction, the insider now owns 10,088,411 shares in the company, valued at $332,715,794.78. The trade was a 0.01 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the sale, the director now owns 7,966 shares of the company’s stock, valued at approximately $308,921.48. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 56,271 shares of company stock valued at $1,871,003. 44.00% of the stock is owned by insiders.

Institutional Trading of Appian

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in Appian in the 3rd quarter worth approximately $29,000. Neo Ivy Capital Management bought a new stake in Appian in the 2nd quarter worth approximately $65,000. Canada Pension Plan Investment Board bought a new stake in Appian in the 2nd quarter worth approximately $96,000. nVerses Capital LLC purchased a new position in Appian in the 2nd quarter worth approximately $105,000. Finally, Point72 Hong Kong Ltd purchased a new position in Appian in the 2nd quarter worth approximately $121,000. Institutional investors own 52.70% of the company’s stock.

Appian Company Profile

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.