Brokerages Set Appian Co. (NASDAQ:APPN) Price Target at $40.20

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

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

Appian Trading Up 0.3 %

Appian stock opened at $36.54 on Friday. The firm has a market capitalization of $3.12 billion, a P/E ratio of -29.86 and a beta of 1.57. Appian has a 1 year low of $26.28 and a 1 year high of $43.33. The business has a 50-day moving average of $34.10 and a 200-day moving average of $32.23.

Insider Buying and Selling

In other Appian news, major shareholder Abdiel Capital Advisors, Lp bought 10,265 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were acquired at an average cost of $33.75 per share, with a total value of $346,443.75. Following the acquisition, the insider now owns 10,179,538 shares of the company’s stock, valued at $343,559,407.50. The trade was a 0.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have acquired 199,512 shares of company stock valued at $6,330,479. 44.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Abdiel Capital Advisors LP grew its holdings in 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 buying an additional 4,278,969 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Appian by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 5,081,560 shares of the company’s stock worth $203,008,000 after buying an additional 392,190 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Appian by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock worth $32,695,000 after buying an additional 5,772 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Appian by 70.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 474,100 shares of the company’s stock worth $18,922,000 after buying an additional 196,435 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Appian by 1.2% in the third 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 last quarter. 52.70% of the stock is owned by institutional investors and hedge funds.

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.