Appian Co. (NASDAQ:APPN) Given Average Rating of “Hold” by Brokerages

Appian Co. (NASDAQ:APPN) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.17.

A number of brokerages recently weighed in on APPN. KeyCorp restated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Scotiabank began coverage on shares of Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target on the stock. Barclays boosted their price objective on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $33.00 price target on shares of Appian in a report on Monday, October 14th.

Appian Stock Down 4.4 %

Appian stock opened at $35.21 on Thursday. The firm has a market cap of $3.01 billion, a P/E ratio of -28.86 and a beta of 1.61. The business has a fifty day moving average of $35.70 and a two-hundred day moving average of $34.18. Appian has a twelve month low of $26.28 and a twelve month high of $43.33.

Insider Activity

In other Appian news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction dated Tuesday, December 3rd. The stock was 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 owns 7,966 shares of the company’s stock, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 44.00% of the company’s stock.

Institutional Investors Weigh In On Appian

A number of large investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Appian by 25.8% during the 2nd quarter. AQR Capital Management LLC now owns 78,150 shares of the company’s stock valued at $2,412,000 after acquiring an additional 16,031 shares during the period. The Manufacturers Life Insurance Company lifted its position in Appian by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock valued at $648,000 after purchasing an additional 689 shares during the period. Algert Global LLC boosted its holdings in Appian by 7.7% in the second quarter. Algert Global LLC now owns 50,263 shares of the company’s stock valued at $1,551,000 after purchasing an additional 3,614 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Appian by 35.8% during 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 during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Appian during the 3rd quarter valued at about $398,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.