Insider Selling: Appian Co. (NASDAQ:APPN) Director Sells $27,146.00 in Stock

Appian Co. (NASDAQ:APPN) Director William D. Mccarthy sold 700 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Appian Stock Performance

Appian stock opened at $39.45 on Friday. The firm’s 50 day moving average price is $35.57 and its two-hundred day moving average price is $32.77. The firm has a market cap of $3.37 billion, a PE ratio of -32.34 and a beta of 1.57. Appian Co. has a twelve month low of $26.28 and a twelve month high of $43.33.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APPN. 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. Barclays increased their target price on Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.20.

Institutional Trading of Appian

Several hedge funds and other institutional investors have recently modified their holdings of the company. Abdiel Capital Advisors LP increased its position in Appian by 72.6% in the 3rd 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. 272 Capital LP bought a new stake in shares of Appian in the 2nd quarter valued at approximately $2,179,000. Empyrean Capital Partners LP acquired a new position in Appian in the second quarter worth approximately $7,715,000. BNP Paribas Financial Markets raised its position in Appian by 282.8% during the third quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock valued at $4,584,000 after acquiring an additional 99,198 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Appian by 88.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company’s stock valued at $2,412,000 after acquiring an additional 33,232 shares during the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

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.