Appian (NASDAQ:APPN) Price Target Raised to $37.00

Appian (NASDAQ:APPN) had its price target raised by Barclays from $34.00 to $37.00 in a report published on Friday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Separately, DA Davidson restated a “neutral” rating and issued a $33.00 target price on shares of Appian in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.80.

Appian Price Performance

NASDAQ APPN opened at $40.65 on Friday. The company has a market capitalization of $3.47 billion, a P/E ratio of -33.32 and a beta of 1.57. Appian has a 12 month low of $26.28 and a 12 month high of $43.33. The company’s 50 day simple moving average is $35.68 and its 200 day simple moving average is $32.84.

Insider Buying and Selling at Appian

In related news, Director William D. Mccarthy sold 700 shares of the business’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 transaction of $27,146.00. Following the transaction, the director now directly owns 7,966 shares of the company’s stock, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp bought 21,769 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average price of $31.20 per share, with a total value of $679,192.80. Following the transaction, the insider now owns 10,070,799 shares in the company, valued at approximately $314,208,928.80. This represents a 0.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 78,040 shares of company stock valued at $2,550,195 in the last three months. 44.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Appian

A number of hedge funds have recently modified their holdings of APPN. Allspring Global Investments Holdings LLC bought a new position in Appian during the third quarter valued at approximately $29,000. Neo Ivy Capital Management bought a new position in shares of Appian during the 2nd quarter valued at $65,000. Canada Pension Plan Investment Board acquired a new stake in shares of Appian in the 2nd quarter valued at $96,000. nVerses Capital LLC bought a new stake in Appian in the second quarter worth $105,000. Finally, Point72 Hong Kong Ltd acquired a new position in Appian during the second quarter worth $121,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.