Appian Co. (NASDAQ:APPN) Receives Average Rating of “Hold” from Analysts

Appian Co. (NASDAQ:APPN) has earned an average rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $40.20.

Several equities research analysts recently weighed in on APPN shares. The Goldman Sachs Group dropped their price objective on shares of Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. DA Davidson restated a “neutral” rating and issued a $33.00 target price on shares of Appian in a research report on Monday, October 14th. Barclays upped their target price on shares of Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Finally, William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st.

Appian Stock Down 3.1 %

APPN opened at $36.43 on Friday. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -29.86 and a beta of 1.57. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $43.33. The company’s 50-day moving average price is $33.98 and its 200 day moving average price is $32.31.

Insider Activity

In other Appian news, major shareholder Abdiel Capital Advisors, Lp bought 25,000 shares of Appian stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $31.17 per share, for a total transaction of $779,250.00. Following the completion of the acquisition, the insider now owns 9,711,434 shares of the company’s stock, valued at approximately $302,705,397.78. This represents a 0.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 224,717 shares of company stock worth $7,114,354 over the last three months. Corporate insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

A number of large investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in Appian by 285.9% during the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after buying an additional 53,172 shares in the last quarter. Holocene Advisors LP boosted its holdings in Appian by 33.2% during the third quarter. Holocene Advisors LP now owns 75,097 shares of the company’s stock worth $2,564,000 after buying an additional 18,729 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in Appian during the third quarter worth approximately $427,000. Abdiel Capital Advisors LP boosted its holdings in Appian by 72.6% during the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after buying an additional 4,278,969 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Appian by 0.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock worth $2,739,000 after buying an additional 491 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

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.