Appian Co. (NASDAQ:APPN) Receives Average Rating of “Hold” from Analysts

Shares of Appian Co. (NASDAQ:APPN) have received a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $40.20.

Several brokerages have recently issued reports on APPN. Barclays boosted their price objective on shares of Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. DA Davidson reissued a “neutral” rating and set a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. William Blair cut shares of Appian from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group decreased their price target on shares of Appian from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, KeyCorp cut shares of Appian from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd.

Appian Stock Down 3.1 %

Shares of NASDAQ APPN opened at $36.43 on Friday. Appian has a 52-week low of $26.28 and a 52-week high of $43.33. The firm has a fifty day moving average of $33.98 and a 200-day moving average of $32.31. The stock has a market capitalization of $2.64 billion, a PE ratio of -29.86 and a beta of 1.57.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 25,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were purchased at an average price of $31.17 per share, for a total transaction of $779,250.00. Following the acquisition, the insider now directly owns 9,711,434 shares of the company’s stock, valued at $302,705,397.78. This represents a 0.26 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 224,717 shares of company stock worth $7,114,354 in the last quarter. 44.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Appian

A number of institutional investors have recently added to or reduced their stakes in the company. Abdiel Capital Advisors LP raised its stake in shares of Appian by 72.6% in the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock valued at $347,179,000 after purchasing an additional 4,278,969 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Appian by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock valued at $203,008,000 after purchasing an additional 392,190 shares in the last quarter. Empyrean Capital Partners LP acquired a new stake in shares of Appian in the 2nd quarter valued at about $7,715,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Appian by 70.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock valued at $18,922,000 after purchasing an additional 196,435 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Appian in the 2nd quarter valued at about $4,657,000. Institutional investors and hedge funds 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.