Shares of Appian Corp (NASDAQ:APPN) have earned an average recommendation of “Hold” from the ten research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $28.00.

A number of equities research analysts have recently commented on APPN shares. BidaskClub raised Appian from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. Barclays raised Appian from an “underweight” rating to an “equal weight” rating and set a $29.00 price target on the stock in a research report on Monday, October 15th. Finally, Goldman Sachs Group started coverage on Appian in a research report on Friday, February 1st. They set a “sell” rating and a $26.00 price target on the stock.

In related news, General Counsel Christopher Winters sold 2,757 shares of Appian stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $35.00, for a total value of $96,495.00. Following the sale, the general counsel now owns 9,657 shares of the company’s stock, valued at approximately $337,995. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Qualified Master Fund L. Abdiel bought 185,682 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was purchased at an average cost of $25.15 per share, for a total transaction of $4,669,902.30. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 816,419 shares of company stock worth $20,793,475. 64.00% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Appian by 18.3% in the 4th quarter. BlackRock Inc. now owns 483,748 shares of the company’s stock valued at $12,921,000 after buying an additional 74,804 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Appian by 295.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,660 shares of the company’s stock valued at $97,000 after buying an additional 2,735 shares during the last quarter. EastBay Asset Management LLC acquired a new stake in Appian in the 4th quarter valued at approximately $20,564,000. Georgetown University acquired a new stake in Appian in the 4th quarter valued at approximately $389,000. Finally, IFP Advisors Inc raised its position in Appian by 29.6% in the 4th quarter. IFP Advisors Inc now owns 1,451 shares of the company’s stock valued at $40,000 after buying an additional 331 shares during the last quarter. 21.63% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ APPN opened at $36.78 on Friday. The stock has a market cap of $2.18 billion, a PE ratio of -60.30 and a beta of 1.85. Appian has a one year low of $22.61 and a one year high of $43.61.

Appian Company Profile

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

Read More: Bear Market – How and Why They Occur

Analyst Recommendations for Appian (NASDAQ:APPN)

Receive News & Ratings for Appian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Appian and related companies with MarketBeat.com's FREE daily email newsletter.