Appian Corporation’s (APPN) Lock-Up Period To End on November 21st
Appian Corporation’s (NASDAQ:APPN) lock-up period is set to end on Tuesday, November 21st. Appian Corporation had issued 6,250,000 shares in its IPO on May 25th. The total size of the offering was $75,000,000 based on an initial share price of $12.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.
Several research firms recently commented on APPN. Canaccord Genuity reiterated a “hold” rating on shares of Appian Corporation in a research note on Monday, November 6th. Cowen and Company downgraded Appian Corporation from an “outperform” rating to a “market perform” rating and set a $23.00 price objective on the stock. in a research note on Monday, October 2nd. Zacks Investment Research upgraded Appian Corporation from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Tuesday, November 7th. Morgan Stanley upped their price objective on Appian Corporation from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $20.00 price objective (up previously from $19.00) on shares of Appian Corporation in a research note on Friday, August 4th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.
Shares of Appian Corporation (NASDAQ:APPN) opened at $22.60 on Tuesday. Appian Corporation has a 12-month low of $14.60 and a 12-month high of $28.65.
Several large investors have recently bought and sold shares of APPN. LMR Partners LLP purchased a new stake in shares of Appian Corporation during the second quarter worth $201,000. New York State Common Retirement Fund purchased a new stake in shares of Appian Corporation during the third quarter worth $205,000. Tower Research Capital LLC TRC purchased a new stake in shares of Appian Corporation during the second quarter worth $238,000. Neuberger Berman Group LLC purchased a new stake in shares of Appian Corporation during the second quarter worth $292,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Appian Corporation in the second quarter worth $323,000. Hedge funds and other institutional investors own 11.53% of the company’s stock.
About Appian Corporation
Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions.
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