Appian Co. (NASDAQ:APPN) Receives $40.80 Average Target Price from Analysts

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

APPN has been the subject of a number of research analyst reports. Barclays raised their price target 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 assumed coverage on Appian in a research report on Monday. They set a “sector perform” rating and a $37.00 price target for the company. Finally, DA Davidson reiterated a “neutral” rating and set a $33.00 price target on shares of Appian in a research note on Monday, October 14th.

Appian Stock Down 1.1 %

Shares of Appian stock opened at $34.74 on Friday. The company has a 50 day moving average price of $37.01 and a 200 day moving average price of $33.91. The firm has a market capitalization of $2.97 billion, a P/E ratio of -28.48 and a beta of 1.61. Appian has a 52 week low of $26.28 and a 52 week high of $43.33.

Insider Buying and Selling at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the transaction, the director now directly owns 7,966 shares of the company’s stock, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 44.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Appian

Institutional investors have recently made changes to their positions in the company. Arete Wealth Advisors LLC acquired a new position in Appian in the 3rd quarter worth about $291,000. Geode Capital Management LLC raised its stake 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 period. Barclays PLC lifted its position in shares of Appian by 285.9% during the 3rd quarter. Barclays PLC now owns 71,771 shares of the company’s stock valued at $2,451,000 after buying an additional 53,172 shares in the last quarter. Holocene Advisors LP grew its stake in Appian by 33.2% in the 3rd quarter. Holocene Advisors LP now owns 75,097 shares of the company’s stock valued at $2,564,000 after acquiring an additional 18,729 shares during the period. Finally, Benjamin Edwards Inc. purchased a new stake in Appian in the 3rd quarter worth $427,000. 52.70% of the stock is 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.