KeyCorp Reiterates Sector Weight Rating for Appian (NASDAQ:APPN)

Appian (NASDAQ:APPN)‘s stock had its “sector weight” rating restated by equities researchers at KeyCorp in a research report issued on Tuesday, MarketBeat.com reports.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank began coverage on shares of Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price on the stock. Barclays increased their price target on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. Finally, DA Davidson restated a “neutral” rating and issued a $33.00 price target on shares of Appian in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Appian presently has an average rating of “Hold” and an average price target of $40.17.

Appian Stock Performance

Shares of APPN stock opened at $33.45 on Tuesday. Appian has a one year low of $26.28 and a one year high of $43.33. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -27.42 and a beta of 1.61. The company’s 50-day moving average is $36.75 and its 200 day moving average is $34.04.

Insider Buying and Selling

In related news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 44.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Appian

A number of institutional investors have recently added to or reduced their stakes in the stock. Abdiel Capital Advisors LP grew its holdings in Appian by 72.6% in the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after purchasing an additional 4,278,969 shares during the last quarter. Empyrean Capital Partners LP acquired a new stake in Appian in the second quarter valued at approximately $7,715,000. Edgestream Partners L.P. acquired a new position in Appian during the second quarter worth $4,657,000. BNP Paribas Financial Markets boosted its holdings in Appian by 282.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock worth $4,584,000 after buying an additional 99,198 shares during the last quarter. Finally, 272 Capital LP purchased a new position in Appian in the 2nd quarter valued at $2,179,000. Institutional investors 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.