Brokerages Set Appian Co. (NASDAQ:APPN) Target Price at $40.80

Appian Co. (NASDAQ:APPN - Get Free Report) has earned an average recommendation of "Hold" from the six brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $40.80.

APPN has been the subject of several analyst reports. Barclays increased their price target on shares of Appian from $34.00 to $37.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. DA Davidson reaffirmed a "neutral" rating and issued a $33.00 price target on shares of Appian in a research note on Monday, October 14th.

Insider Buying and Selling

In other Appian news, Director William D. Mccarthy sold 700 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 of the company's stock, valued at $308,921.48. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 44.00% of the stock is owned by corporate insiders.

Institutional Trading of Appian

A number of large investors have recently modified their holdings of the stock. Abdiel Capital Advisors LP increased its holdings in 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 purchasing an additional 4,278,969 shares during the period. Geode Capital Management LLC grew its position in shares of Appian by 0.6% during the third quarter. Geode Capital Management LLC now owns 957,493 shares of the company's stock worth $32,695,000 after buying an additional 5,772 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Appian by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 334,847 shares of the company's stock worth $11,432,000 after buying an additional 3,817 shares during the period. Empyrean Capital Partners LP acquired a new stake in Appian in the second quarter valued at approximately $7,715,000. Finally, Edgestream Partners L.P. purchased a new position in Appian in the second quarter worth approximately $4,657,000. Hedge funds and other institutional investors own 52.70% of the company's stock.

Appian Trading Up 2.1 %

NASDAQ APPN traded up $0.70 on Friday, reaching $33.89. 619,662 shares of the company were exchanged, compared to its average volume of 463,481. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $43.33. The stock has a market capitalization of $2.89 billion, a P/E ratio of -27.78 and a beta of 1.61. The business's fifty day moving average price is $37.00 and its 200 day moving average price is $33.74.

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.