Appian (NASDAQ:APPN) Coverage Initiated at Scotiabank

Scotiabank assumed coverage on shares of Appian (NASDAQ:APPN) in a report issued on Monday morning, MarketBeat reports. The firm issued a sector perform rating and a $37.00 price target on the stock.

Other analysts have also issued research reports about the company. Barclays lifted their price objective on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. DA Davidson reissued a “neutral” rating and set a $33.00 price objective on shares of Appian in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.17.

Appian Trading Up 2.8 %

Shares of Appian stock opened at $34.85 on Monday. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -28.57 and a beta of 1.61. Appian has a 1 year low of $26.28 and a 1 year high of $43.33. The company’s fifty day simple moving average is $37.00 and its 200-day simple moving average is $33.79.

Insider Activity

In other news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction 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 represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 44.00% of the company’s stock.

Hedge Funds Weigh In On Appian

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in Appian in the 3rd quarter valued at $29,000. Canada Pension Plan Investment Board acquired a new stake in shares of Appian in the second quarter valued at about $96,000. Point72 Hong Kong Ltd bought a new stake in Appian during the second quarter worth about $121,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after purchasing an additional 1,088 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Appian by 199.4% in the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after buying an additional 3,953 shares during the last quarter. 52.70% of the stock is owned by 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.