Appian (NASDAQ:APPN) Research Coverage Started at Scotiabank

Scotiabank started coverage on shares of Appian (NASDAQ:APPN) in a research note released on Monday morning, MarketBeat reports. The brokerage issued a sector perform rating and a $37.00 target price on the stock.

Several other equities research analysts have also issued reports on APPN. Barclays boosted 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. DA Davidson reissued a “neutral” rating and issued a $33.00 price target 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 given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.17.

Appian Price Performance

Shares of Appian stock opened at $34.74 on Monday. The firm has a market capitalization of $2.97 billion, a PE ratio of -28.48 and a beta of 1.61. The company’s fifty day moving average price is $37.03 and its two-hundred day moving average price is $33.90. Appian has a 52-week low of $26.28 and a 52-week high of $43.33.

Insider Transactions at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of the stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 44.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Appian

A number of hedge funds have recently added to or reduced their stakes in APPN. Allspring Global Investments Holdings LLC acquired a new position in Appian during the 3rd quarter valued at about $29,000. Canada Pension Plan Investment Board acquired a new position in Appian during the 2nd quarter valued at about $96,000. Point72 Hong Kong Ltd acquired a new position in Appian during the 2nd quarter valued at about $121,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Appian by 35.8% during the 2nd 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 period. Finally, FMR LLC lifted its position in Appian by 199.4% during the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock valued at $203,000 after purchasing an additional 3,953 shares during the period. Institutional investors 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.