Appian (NASDAQ:APPN) Given New $37.00 Price Target at Barclays

Appian (NASDAQ:APPN) had its target price increased by equities research analysts at Barclays from $34.00 to $37.00 in a report issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Barclays‘s target price indicates a potential downside of 8.98% from the stock’s current price.

Separately, DA Davidson restated a “neutral” rating and issued a $33.00 price objective on shares of Appian in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.80.

Appian Stock Up 3.0 %

Shares of APPN stock opened at $40.65 on Friday. Appian has a 52-week low of $26.28 and a 52-week high of $43.33. The stock has a market cap of $3.47 billion, a PE ratio of -33.32 and a beta of 1.57. The business has a 50-day simple moving average of $35.68 and a 200-day simple moving average of $32.83.

Insider Activity at Appian

In other news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the sale, the director now owns 7,966 shares in the company, valued at $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Abdiel Capital Advisors, Lp purchased 23,053 shares of Appian stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average price of $30.22 per share, with a total value of $696,661.66. Following the transaction, the insider now owns 10,036,046 shares in the company, valued at approximately $303,289,310.12. The trade was a 0.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 101,093 shares of company stock worth $3,246,857 in the last 90 days. Corporate insiders own 44.00% of the company’s stock.

Institutional Investors Weigh In On Appian

Several institutional investors have recently bought and sold shares of the company. Abdiel Capital Advisors LP lifted its position in shares of Appian by 72.6% in 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 in the last quarter. Geode Capital Management LLC boosted its stake in Appian by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock worth $32,695,000 after purchasing an additional 5,772 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 in the last quarter. Empyrean Capital Partners LP acquired a new stake in shares of Appian in the second quarter valued at about $7,715,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Appian in the second quarter worth about $4,657,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.