Shares of Appian Co. (NASDAQ:APPN – Get Free Report) fell 7.3% on Tuesday after DA Davidson lowered their price target on the stock from $55.00 to $52.00. DA Davidson currently has a buy rating on the stock. Appian traded as low as $32.87 and last traded at $32.97. 227,796 shares changed hands during trading, a decline of 49% from the average session volume of 446,834 shares. The stock had previously closed at $35.58.
Several other analysts also recently weighed in on APPN. Citigroup upgraded Appian from a “neutral” rating to a “buy” rating and cut their price target for the stock from $47.00 to $45.00 in a research note on Thursday, January 11th. KeyCorp upped their price objective on Appian from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Barclays lowered their price objective on Appian from $40.00 to $35.00 and set an “underweight” rating on the stock in a research report on Friday, January 12th. Finally, William Blair reissued an “outperform” rating on shares of Appian in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.71.
Insider Buying and Selling at Appian
In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 44,014 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $35.56, for a total value of $1,565,137.84. Following the sale, the insider now directly owns 6,567,430 shares of the company’s stock, valued at $233,537,810.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 1,442,014 shares of company stock valued at $49,299,338. Company insiders own 43.60% of the company’s stock.
Hedge Funds Weigh In On Appian
Several hedge funds and other institutional investors have recently made changes to their positions in APPN. Quarry LP purchased a new position in shares of Appian in the first quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new position in Appian during the fourth quarter worth approximately $47,000. Captrust Financial Advisors lifted its position in Appian by 44.1% during the second quarter. Captrust Financial Advisors now owns 1,321 shares of the company’s stock worth $63,000 after buying an additional 404 shares in the last quarter. FMR LLC lifted its position in Appian by 40.5% during the third quarter. FMR LLC now owns 1,824 shares of the company’s stock worth $83,000 after buying an additional 526 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Appian by 144.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,803 shares of the company’s stock worth $86,000 after buying an additional 1,065 shares in the last quarter. Hedge funds and other institutional investors own 41.15% of the company’s stock.
Appian Trading Down 7.6 %
The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50-day moving average of $34.26 and a 200 day moving average of $39.05.
About Appian
Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company’s platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.