Research analysts at BTIG Research assumed coverage on shares of Appian (NASDAQ:APPN) in a research report issued to clients and investors on Monday. The brokerage set a “neutral” rating on the stock.
A number of other equities research analysts have also issued reports on APPN. BidaskClub lowered shares of Appian from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Zacks Investment Research lowered shares of Appian from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Cowen reaffirmed a “hold” rating and set a $27.00 price objective on shares of Appian in a report on Friday, February 23rd. Barclays increased their price objective on shares of Appian to $27.00 and gave the company an “underweight” rating in a report on Friday, February 23rd. Finally, William Blair lowered shares of Appian from an “outperform” rating to a “market perform” rating in a report on Friday, January 19th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.29.
Shares of Appian (APPN) opened at $28.28 on Monday. Appian has a fifty-two week low of $14.60 and a fifty-two week high of $43.26.
In other Appian news, major shareholder Abdiel Capital Management, Llc bought 79,036 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was purchased at an average cost of $20.40 per share, with a total value of $1,612,334.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bobbie G. Kilberg sold 21,220 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $28.01, for a total transaction of $594,372.20. The disclosure for this sale can be found here.
Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its holdings in shares of Appian by 79.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,133 shares of the company’s stock valued at $193,000 after purchasing an additional 2,715 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Appian in the second quarter valued at $201,000. New York State Common Retirement Fund purchased a new position in shares of Appian in the third quarter valued at $205,000. Citadel Advisors LLC purchased a new position in shares of Appian in the fourth quarter valued at $220,000. Finally, Deutsche Bank AG grew its holdings in shares of Appian by 421.7% in the fourth quarter. Deutsche Bank AG now owns 7,945 shares of the company’s stock valued at $250,000 after purchasing an additional 6,422 shares in the last quarter. 15.68% of the stock is owned by hedge funds and other institutional investors.
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Appian Company Profile
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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