A number of other equities analysts have also issued reports on the company. SunTrust Banks lowered Appian from a buy rating to a hold rating and set a $28.00 target price for the company. in a research note on Monday, January 8th. Zacks Investment Research lowered Appian from a buy rating to a sell rating in a research note on Friday, December 22nd. BidaskClub upgraded Appian from a hold rating to a buy rating in a research note on Friday, December 29th. Goldman Sachs Group lowered Appian from a neutral rating to a sell rating and set a $17.00 target price for the company. in a research note on Thursday, January 18th. Finally, Morgan Stanley lowered Appian from an equal weight rating to an underweight rating and set a $24.00 target price for the company. in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $24.29.
Appian (NASDAQ:APPN) opened at $28.74 on Friday. Appian has a 52 week low of $14.60 and a 52 week high of $43.26.
In related news, major shareholder Abdiel Capital Management, Llc acquired 5,258 shares of Appian stock in a transaction on Monday, December 4th. The stock was acquired at an average price of $20.48 per share, for a total transaction of $107,683.84. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel acquired 208,777 shares of Appian stock in a transaction on Monday, December 11th. The shares were bought at an average price of $20.17 per share, with a total value of $4,211,032.09. The disclosure for this purchase can be found here. Insiders have acquired a total of 512,543 shares of company stock valued at $10,557,263 in the last quarter.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in shares of Appian by 27.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 585,018 shares of the company’s stock valued at $14,673,000 after buying an additional 127,545 shares during the last quarter. Nepsis Capital Management Inc. purchased a new position in shares of Appian during the 4th quarter valued at about $4,306,000. Lord Abbett & CO. LLC purchased a new position in shares of Appian during the 2nd quarter valued at about $8,134,000. Goldman Sachs Group Inc. purchased a new position in shares of Appian during the 2nd quarter valued at about $370,000. Finally, Roundview Capital LLC raised its stake in shares of Appian by 14.7% during the 4th quarter. Roundview Capital LLC now owns 103,794 shares of the company’s stock valued at $3,267,000 after buying an additional 13,270 shares during the last quarter. Institutional investors and hedge funds own 14.22% of the company’s stock.
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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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