Appian (NASDAQ:APPN) Stock Price Down 6.2% – Time to Sell?

Appian Co. (NASDAQ:APPN)’s stock price dropped 6.2% during trading on Thursday . The company traded as low as $32.42 and last traded at $31.97. Approximately 51,353 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 355,081 shares. The stock had previously closed at $34.10.

Analyst Upgrades and Downgrades

APPN has been the subject of a number of recent research reports. Barclays lifted their target price on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Scotiabank assumed coverage on shares of Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price for the company. Finally, KeyCorp reissued a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. One equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $40.17.

Appian Stock Performance

The business has a 50 day moving average of $34.76 and a two-hundred day moving average of $34.09. The stock has a market capitalization of $2.70 billion, a PE ratio of -25.94 and a beta of 1.64.

Insider Buying and Selling at Appian

In other news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was 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. This represents 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 this hyperlink. Insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APPN. Oppenheimer & Co. Inc. raised its holdings in shares of Appian by 5.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock worth $270,000 after purchasing an additional 400 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Appian by 0.6% in 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 acquiring an additional 491 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock worth $76,000 after acquiring an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Appian by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock valued at $740,000 after acquiring an additional 686 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Appian in the 3rd quarter valued at about $29,000. 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.