Appian (NASDAQ:APPN) Given Sector Weight Rating at KeyCorp

KeyCorp reaffirmed their sector weight rating on shares of Appian (NASDAQ:APPN) in a research note released on Tuesday, Marketbeat reports.

Other equities analysts have also issued reports about the stock. Barclays raised their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. DA Davidson reissued a “neutral” rating and set a $33.00 target price on shares of Appian in a report on Monday, October 14th. Finally, Scotiabank initiated 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. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Appian has an average rating of “Hold” and a consensus price target of $40.17.

Appian Stock Down 2.2 %

Shares of NASDAQ:APPN opened at $32.40 on Tuesday. Appian has a 52-week low of $26.28 and a 52-week high of $43.33. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -26.56 and a beta of 1.61. The business has a 50-day moving average price of $36.75 and a 200-day moving average price of $34.04.

Insider Activity 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 completion of the transaction, the director now owns 7,966 shares in the company, valued at $308,921.48. The trade was a 8.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

Several institutional investors have recently bought and sold shares of the business. Abdiel Capital Advisors LP raised its stake in shares of Appian by 72.6% during the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after buying an additional 4,278,969 shares during the period. Empyrean Capital Partners LP acquired a new position in Appian during the second quarter worth $7,715,000. Edgestream Partners L.P. acquired a new position in Appian during the second quarter worth $4,657,000. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 99,198 shares in the last quarter. Finally, 272 Capital LP acquired a new stake in shares of Appian in the second quarter valued at about $2,179,000. 52.70% of the stock is owned by institutional investors and hedge funds.

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.