Appian Corporation (NASDAQ:APPN) Major Shareholder Acquires $2,891,026.28 in Stock
Appian Corporation (NASDAQ:APPN) major shareholder Qualified Master Fund L. Abdiel acquired 155,348 shares of Appian Corporation stock in a transaction dated Tuesday, July 11th. The shares were purchased at an average price of $18.61 per share, with a total value of $2,891,026.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of Appian Corporation (NASDAQ APPN) traded down 5.42% on Friday, reaching $19.71. 418,620 shares of the company’s stock traded hands. The company’s 50-day moving average price is $18.61 and its 200 day moving average price is $18.56. The firm’s market cap is $675.54 million. Appian Corporation has a one year low of $14.60 and a one year high of $21.49.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. LMR Partners LLP bought a new stake in Appian Corporation during the second quarter worth about $201,000. Gilder Gagnon Howe & Co. LLC bought a new stake in Appian Corporation during the second quarter worth about $5,282,000. Finally, Spark Investment Management LLC bought a new stake in Appian Corporation during the second quarter worth about $2,355,000.
Several brokerages recently issued reports on APPN. Pacific Crest began coverage on Appian Corporation in a research note on Monday, June 19th. They issued a “sector weight” rating for the company. Canaccord Genuity boosted their price target on Appian Corporation from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Friday. Barclays PLC boosted their price objective on shares of Appian Corporation from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday. Cowen and Company began coverage on shares of Appian Corporation in a research report on Monday, June 19th. They set an “outperform” rating for the company. Finally, Goldman Sachs Group Inc began coverage on shares of Appian Corporation in a research report on Monday, June 19th. They set a “neutral” rating and a $17.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.50.
Appian Corporation 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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