Appian (NASDAQ:APPN) Shares Up 8.3%

Appian Co. (NASDAQ:APPNGet Free Report) shot up 8.3% on Wednesday . The company traded as high as $35.55 and last traded at $35.55. 380,095 shares changed hands during trading, a decline of 16% from the average session volume of 453,292 shares. The stock had previously closed at $32.84.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on APPN shares. Citigroup raised Appian from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $47.00 to $45.00 in a research note on Thursday, January 11th. Barclays lowered their target price on Appian from $40.00 to $35.00 and set an “underweight” rating on the stock in a research note on Friday, January 12th. William Blair reaffirmed an “outperform” rating on shares of Appian in a research note on Friday, February 16th. DA Davidson lowered their target price on Appian from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday. Finally, KeyCorp lifted their target price on Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.71.

View Our Latest Report on Appian

Appian Price Performance

The company has a fifty day moving average of $34.01 and a two-hundred day moving average of $38.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68.

Insider Transactions at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 750,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $35.30, for a total transaction of $26,475,000.00. Following the completion of the transaction, the insider now directly owns 6,611,444 shares in the company, valued at $233,383,973.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,442,014 shares of company stock worth $49,299,338 over the last three months. 43.60% of the stock is currently owned by insiders.

Institutional Trading of Appian

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP bought a new stake in Appian in the first quarter valued at $27,000. Headlands Technologies LLC bought a new stake in Appian in the fourth quarter valued at $47,000. Captrust Financial Advisors grew its position in Appian by 44.1% in the second quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock valued at $63,000 after acquiring an additional 404 shares during the period. FMR LLC grew its holdings in shares of Appian by 40.5% during the third quarter. FMR LLC now owns 1,824 shares of the company’s stock worth $83,000 after purchasing an additional 526 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Appian by 144.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock worth $86,000 after purchasing an additional 1,065 shares during the last quarter. 41.15% of the stock is currently owned by institutional investors.

About Appian

(Get Free Report)

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.

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