Appian (NASDAQ:APPN) Given “Sector Weight” Rating at KeyCorp

KeyCorp restated their sector weight rating on shares of Appian (NASDAQ:APPN) in a research note published on Tuesday, MarketBeat.com reports.

Several other research firms also recently weighed in on APPN. Barclays lifted their price objective on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, December 6th. DA Davidson reaffirmed a “neutral” rating and issued a $33.00 price target on shares of Appian in a research report on Monday, October 14th. Finally, Scotiabank started coverage on shares of Appian in a research note on Monday, January 6th. They set a “sector perform” rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.17.

Appian Stock Down 2.2 %

Shares of NASDAQ APPN opened at $32.40 on Tuesday. Appian has a twelve month low of $26.28 and a twelve month high of $43.33. The firm has a market cap of $2.77 billion, a PE ratio of -26.56 and a beta of 1.61. The business has a fifty day simple moving average of $36.75 and a two-hundred day simple moving average of $34.04.

Insider Activity

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. Company insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in Appian in the third quarter worth about $29,000. Canada Pension Plan Investment Board acquired a new position in shares of Appian during the second quarter valued at about $96,000. Point72 Hong Kong Ltd purchased a new position in shares of Appian in the 2nd quarter valued at approximately $121,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after purchasing an additional 1,088 shares in the last quarter. Finally, FMR LLC grew its position in Appian by 199.4% during the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after purchasing an additional 3,953 shares during the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

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.