Appian Co. (NASDAQ:APPN) Receives $40.80 Average Price Target from Analysts

Appian Co. (NASDAQ:APPN) has been given a consensus rating of “Hold” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $40.80.

Several brokerages have recently issued reports on APPN. Barclays increased their price objective on 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 objective on shares of Appian in a research note on Monday, October 14th.

Insider Activity at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 1,712 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were bought at an average price of $32.91 per share, with a total value of $56,341.92. Following the completion of the acquisition, the insider now owns 10,169,273 shares in the company, valued at $334,670,774.43. This trade represents a 0.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William D. Mccarthy sold 700 shares of Appian 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 $308,921.48. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 35,486 shares of company stock valued at $1,184,203 over the last quarter. 44.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in Appian in the second quarter valued at approximately $65,000. Bank of New York Mellon Corp grew its position in shares of Appian by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock worth $4,443,000 after acquiring an additional 13,046 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Appian by 36.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,280 shares of the company’s stock valued at $348,000 after acquiring an additional 2,993 shares during the period. Crossmark Global Holdings Inc. raised its position in Appian by 3.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock valued at $299,000 after purchasing an additional 280 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Appian during the 2nd quarter worth $105,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Up 0.5 %

Shares of APPN opened at $37.46 on Wednesday. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $43.33. The company has a market cap of $3.20 billion, a P/E ratio of -30.70 and a beta of 1.57. The firm’s 50 day moving average price is $36.33 and its 200 day moving average price is $33.23.

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.