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

Appian Co. (NASDAQ:APPN) has earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $40.80.

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

Appian Trading Up 2.1 %

Shares of APPN opened at $33.89 on Friday. The firm has a 50-day moving average price of $37.00 and a 200 day moving average price of $33.69. Appian has a 12-month low of $26.28 and a 12-month high of $43.33. The firm has a market capitalization of $2.89 billion, a P/E ratio of -27.78 and a beta of 1.61.

Insiders Place Their Bets

In other news, Director William D. Mccarthy sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 44.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Appian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Appian in the third quarter valued at $29,000. Canada Pension Plan Investment Board acquired a new stake in Appian in the 2nd quarter valued at about $96,000. Point72 Hong Kong Ltd purchased a new position in shares of Appian in the 2nd quarter valued at about $121,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after buying an additional 1,088 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after buying an additional 3,953 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

About Appian

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.