Appian (NASDAQ:APPN) Trading 7.1% Higher – Time to Buy?

Shares of Appian Co. (NASDAQ:APPN) rose 7.1% on Tuesday . The company traded as high as $37.25 and last traded at $37.16. Approximately 122,946 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 369,988 shares. The stock had previously closed at $34.70.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. 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. Scotiabank began coverage on Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price target on the stock. Barclays increased their price objective on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.17.

Appian Stock Up 6.2 %

The business has a 50-day simple moving average of $35.70 and a two-hundred day simple moving average of $34.16. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -30.20 and a beta of 1.61.

Insider Buying and Selling at Appian

In related 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 value of $27,146.00. Following the transaction, the director now owns 7,966 shares of the company’s stock, valued at approximately $308,921.48. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 44.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Appian

Several hedge funds have recently made changes to their positions in APPN. Allspring Global Investments Holdings LLC purchased a new position in Appian during the 3rd quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of 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 acquiring an additional 1,088 shares in the last quarter. FMR LLC boosted its position in Appian by 199.4% during the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after purchasing an additional 3,953 shares during the period. Entropy Technologies LP acquired a new position in Appian in the 4th quarter valued at $208,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Appian in the third quarter worth about $266,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

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.