Appian Co. (NASDAQ:APPN) Given Consensus Rating of “Hold” by Brokerages

Appian Co. (NASDAQ:APPN) has earned a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $40.17.

APPN has been the subject of a number of research reports. Barclays increased their target price on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Scotiabank started coverage on shares of Appian in a research note on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price objective for the company. Finally, DA Davidson reaffirmed a “neutral” rating and set a $33.00 target price on shares of Appian in a research note on Monday, October 14th.

Insiders Place Their Bets

In related news, Director William D. Mccarthy sold 700 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at $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 available through the SEC website. Insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Abdiel Capital Advisors LP raised its position in shares of Appian by 72.6% during 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 during the last quarter. Geode Capital Management LLC increased its position in Appian by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock valued at $32,695,000 after purchasing an additional 5,772 shares during the period. Charles Schwab Investment Management Inc. increased its position in Appian by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company’s stock valued at $11,432,000 after purchasing an additional 3,817 shares during the period. Empyrean Capital Partners LP bought a new position in Appian during the 2nd quarter worth approximately $7,715,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Appian in the 2nd quarter worth approximately $4,657,000. 52.70% of the stock is owned by institutional investors and hedge funds.

Appian Stock Down 3.1 %

Shares of APPN stock opened at $33.68 on Friday. The business has a fifty day simple moving average of $36.95 and a 200 day simple moving average of $33.98. The company has a market cap of $2.88 billion, a P/E ratio of -27.61 and a beta of 1.61. Appian has a twelve month low of $26.28 and a twelve month high of $43.33.

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.