Appian Co. (NASDAQ:APPN) Receives $40.80 Average PT from Brokerages

Appian Co. (NASDAQ:APPN) has earned a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $40.80.

Several equities research analysts have commented on APPN shares. Barclays upped their target price on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. DA Davidson reiterated a “neutral” rating and issued a $33.00 price target on shares of Appian in a research note on Monday, October 14th.

Insider Activity

In other Appian news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 in the company, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Abdiel Capital Advisors, Lp purchased 1,486 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were acquired at an average price of $32.98 per share, with a total value of $49,008.28. Following the completion of the acquisition, the insider now owns 10,088,411 shares in the company, valued at approximately $332,715,794.78. This trade represents a 0.01 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 48,770 shares of company stock valued at $1,625,495. 44.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Abdiel Capital Advisors LP boosted its holdings in Appian by 72.6% in the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after acquiring an additional 4,278,969 shares in the last quarter. Empyrean Capital Partners LP bought a new position in shares of Appian during the second quarter valued at about $7,715,000. Edgestream Partners L.P. bought a new position in shares of Appian in the second quarter valued at approximately $4,657,000. BNP Paribas Financial Markets grew its stake in Appian by 282.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock valued at $4,584,000 after purchasing an additional 99,198 shares during the period. Finally, 272 Capital LP bought a new stake in Appian in the second quarter worth about $2,179,000. 52.70% of the stock is owned by institutional investors.

Appian Stock Down 4.3 %

APPN stock opened at $36.82 on Wednesday. The company has a market cap of $3.14 billion, a P/E ratio of -30.57 and a beta of 1.57. Appian has a twelve month low of $26.28 and a twelve month high of $43.33. The business’s fifty day moving average is $36.08 and its 200-day moving average is $33.02.

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.