Appian Corp (NASDAQ:APPN) major shareholder Qualified Master Fund L. Abdiel acquired 450,000 shares of Appian stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $20.15 per share, with a total value of $9,067,500.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Appian Corp (APPN) traded up $0.06 during trading on Wednesday, reaching $21.20. 117,146 shares of the company’s stock were exchanged, compared to its average volume of 258,616. Appian Corp has a twelve month low of $14.60 and a twelve month high of $28.65.
APPN has been the subject of several recent analyst reports. Canaccord Genuity boosted their price objective on shares of Appian from $19.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, October 30th. Zacks Investment Research lowered shares of Appian from a “buy” rating to a “hold” rating in a research note on Monday, September 4th. Cowen lowered shares of Appian from an “outperform” rating to a “market perform” rating and set a $23.00 price objective for the company. in a research note on Monday, October 2nd. KeyCorp reiterated a “hold” rating on shares of Appian in a research note on Monday, September 18th. Finally, Morgan Stanley upped their price target on shares of Appian from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, November 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $22.00.
A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN purchased a new stake in shares of Appian in the 2nd quarter valued at $2,162,000. Eagle Asset Management Inc. purchased a new stake in shares of Appian in the 2nd quarter valued at $2,716,000. Abdiel Capital Advisors LP purchased a new stake in shares of Appian in the 2nd quarter valued at $56,982,000. Spark Investment Management LLC purchased a new stake in shares of Appian in the 2nd quarter valued at $2,355,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Appian in the 2nd quarter valued at $8,134,000. Institutional investors and hedge funds own 11.61% of the company’s stock.
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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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