Appian (NASDAQ:APPN) Coverage Initiated at Scotiabank

Scotiabank began coverage on shares of Appian (NASDAQ:APPN) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm set a “sector perform” rating and a $37.00 price target on the stock. Scotiabank’s price target would suggest a potential upside of 9.18% from the stock’s current price.

APPN has been the topic of a number of other reports. Barclays lifted their price target on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. DA Davidson restated a “neutral” rating and issued a $33.00 price target on shares of Appian in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.17.

Appian Trading Up 2.1 %

APPN stock opened at $33.89 on Monday. The business’s fifty day moving average price is $37.00 and its 200 day moving average price is $33.79. Appian has a 12-month low of $26.28 and a 12-month high of $43.33. The company has a market capitalization of $2.89 billion, a PE ratio of -27.78 and a beta of 1.61.

Insider Activity

In related news, Director William D. Mccarthy sold 700 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the sale, the director now owns 7,966 shares of the company’s stock, valued at $308,921.48. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

Several hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Appian during the 3rd quarter valued at about $29,000. Canada Pension Plan Investment Board purchased a new position in Appian during the second quarter valued at approximately $96,000. Point72 Hong Kong Ltd acquired a new position in Appian in the 2nd quarter valued at approximately $121,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Appian by 35.8% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after buying an additional 1,088 shares during the period. Finally, FMR LLC raised its holdings 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 acquiring an additional 3,953 shares in the last quarter. 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.