Appian (NASDAQ:APPN) Trading Down 6.2% - Time to Sell?

Appian Co. (NASDAQ:APPN - Get Free Report)'s stock price traded down 6.2% on Thursday . The stock traded as low as $32.42 and last traded at $31.97. 51,353 shares were traded during trading, a decline of 86% from the average session volume of 355,081 shares. The stock had previously closed at $34.10.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Appian from $34.00 to $37.00 and gave the company an "underweight" rating in a report on Friday, December 6th. KeyCorp reiterated a "sector weight" rating on shares of Appian in a report on Tuesday, January 14th. Finally, Scotiabank initiated coverage on Appian in a report on Monday, January 6th. They issued a "sector perform" rating and a $37.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Appian presently has an average rating of "Hold" and an average target price of $40.17.

Appian Price Performance

The business's 50-day moving average price is $34.58 and its two-hundred day moving average price is $34.01. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -25.94 and a beta of 1.64.

Insider Transactions at Appian

In other news, Director William D. Mccarthy sold 700 shares of the business'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 sale, the director now directly owns 7,966 shares in the company, valued at approximately $308,921.48. The trade was a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 44.00% of the company's stock.

Hedge Funds Weigh In On Appian

Several large investors have recently added to or reduced their stakes in APPN. Allspring Global Investments Holdings LLC acquired a new stake in shares of Appian during the third quarter worth $29,000. Point72 Hong Kong Ltd acquired a new position in shares of Appian in the 4th quarter valued at about $35,000. Canada Pension Plan Investment Board grew its position in shares of Appian by 27.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock valued at $76,000 after buying an additional 500 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Appian by 1,244.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock worth $125,000 after acquiring an additional 3,498 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Appian in the fourth quarter worth about $181,000. 52.70% of the stock is currently owned by institutional investors.

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.