Brokerages Set Appian Co. (NASDAQ:APPN) PT at $40.80

Appian Co. (NASDAQ:APPN) has been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $40.17.

A number of analysts have weighed in on APPN shares. Barclays upped their price target on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Scotiabank assumed coverage on shares of Appian in a report on Monday. They set a “sector perform” rating and a $37.00 price objective for the company. Finally, DA Davidson reissued a “neutral” rating and issued a $33.00 target price on shares of Appian in a report on Monday, October 14th.

Insider Activity

In related news, Director William D. Mccarthy sold 700 shares of the business’s 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 completion of the sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. 44.00% of the stock is owned by insiders.

Institutional Trading of Appian

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in Appian during the 3rd quarter worth approximately $29,000. Canada Pension Plan Investment Board acquired a new stake in Appian in the second quarter worth $96,000. Point72 Hong Kong Ltd bought a new position in shares of Appian during the second quarter worth $121,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after buying an additional 1,088 shares during the period. Finally, FMR LLC increased its position in shares of Appian by 199.4% in the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after buying an additional 3,953 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Trading Up 0.7 %

APPN opened at $35.11 on Friday. The stock has a market cap of $3.00 billion, a PE ratio of -28.78 and a beta of 1.61. Appian has a 1 year low of $26.28 and a 1 year high of $43.33. The stock’s 50 day simple moving average is $37.03 and its 200-day simple moving average is $33.84.

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.