Appian (NASDAQ:APPN) Earns Sector Perform Rating from Analysts at Scotiabank

Scotiabank assumed coverage on shares of Appian (NASDAQ:APPN - Free Report) in a report published on Monday, MarketBeat Ratings reports. The brokerage issued a sector perform rating and a $37.00 price objective on the stock.

A number of other equities analysts have also weighed in on APPN. DA Davidson reiterated 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 $34.00 to $37.00 and gave the stock an "underweight" rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $40.17.

Appian Price Performance

Shares of APPN stock traded up $0.96 during trading hours on Monday, reaching $34.85. 453,415 shares of the company traded hands, compared to its average volume of 460,238. The firm has a 50-day moving average price of $37.00 and a 200 day moving average price of $33.79. The company has a market cap of $2.98 billion, a P/E ratio of -28.57 and a beta of 1.61. Appian has a 12-month low of $26.28 and a 12-month high of $43.33.

Insider Buying and Selling

In related news, Director William D. Mccarthy sold 700 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total transaction of $27,146.00. Following the sale, the director now owns 7,966 shares of the company's stock, valued at $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 44.00% of the stock is owned by company insiders.

Institutional Trading of Appian

Several hedge funds have recently made changes to their positions in APPN. Barclays PLC boosted its holdings in shares of Appian by 285.9% in the 3rd quarter. Barclays PLC now owns 71,771 shares of the company's stock worth $2,451,000 after purchasing an additional 53,172 shares during the period. Abdiel Capital Advisors LP increased its position in Appian by 72.6% during the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company's stock valued at $347,179,000 after acquiring an additional 4,278,969 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Appian by 282.8% in 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 during the period. Empyrean Capital Partners LP bought a new stake in shares of Appian in the 2nd quarter worth about $7,715,000. Finally, 272 Capital LP purchased a new position in shares of Appian during the 2nd quarter worth about $2,179,000. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

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.