KeyCorp Reiterates Sector Weight Rating for Appian (NASDAQ:APPN)

Appian (NASDAQ:APPN - Get Free Report)'s stock had its "sector weight" rating reaffirmed by investment analysts at KeyCorp in a report released on Tuesday, Marketbeat reports.

Several other brokerages also recently issued reports on APPN. Scotiabank assumed coverage on shares of Appian in a research report on Monday, January 6th. They set a "sector perform" rating and a $37.00 price objective on the stock. DA Davidson reissued a "neutral" rating and set a $33.00 price target on shares of Appian in a report on Monday, October 14th. Finally, Barclays upped their price objective on Appian from $34.00 to $37.00 and gave the company an "underweight" rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $40.17.

Appian Stock Down 2.2 %

APPN traded down $0.74 on Tuesday, reaching $32.40. The company's stock had a trading volume of 426,867 shares, compared to its average volume of 401,846. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -26.56 and a beta of 1.61. Appian has a fifty-two week low of $26.28 and a fifty-two week high of $43.33. The stock has a 50 day moving average of $36.75 and a two-hundred day moving average of $34.04.

Insider Activity

In related news, Director William D. Mccarthy sold 700 shares of the firm's stock in a transaction that occurred on 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 44.00% of the company's stock.

Institutional Trading of Appian

Large investors have recently bought and sold shares of the company. Barclays PLC boosted its position 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 buying an additional 53,172 shares in the last quarter. Abdiel Capital Advisors LP raised 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 worth $347,179,000 after acquiring an additional 4,278,969 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Appian by 282.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company's stock valued at $4,584,000 after buying an additional 99,198 shares in the last quarter. Empyrean Capital Partners LP acquired a new stake in shares of Appian during the second quarter valued at $7,715,000. Finally, 272 Capital LP purchased a new position in Appian in the 2nd quarter valued at about $2,179,000. Institutional investors and hedge funds own 52.70% of the company's stock.

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.