Appian Corp (NASDAQ:APPN) major shareholder Qualified Master Fund L. Abdiel bought 17,473 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of $20.14 per share, with a total value of $351,906.22. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Appian Corp (NASDAQ:APPN) traded up $0.01 during midday trading on Friday, reaching $36.76. The company’s stock had a trading volume of 610,445 shares, compared to its average volume of 829,076. Appian Corp has a 12-month low of $14.60 and a 12-month high of $43.26.
A number of hedge funds and other institutional investors have recently made changes to their positions in APPN. Abdiel Capital Advisors LP acquired a new stake in Appian during the second quarter valued at approximately $56,982,000. JPMorgan Chase & Co. acquired a new stake in Appian during the second quarter valued at approximately $8,303,000. Lord Abbett & CO. LLC acquired a new stake in Appian during the second quarter valued at approximately $8,134,000. Vanguard Group Inc. acquired a new stake in Appian during the second quarter valued at approximately $7,105,000. Finally, Whale Rock Capital Management LLC acquired a new stake in Appian during the second quarter valued at approximately $4,447,000. Hedge funds and other institutional investors own 11.61% of the company’s stock.
Several research analysts recently commented on APPN shares. BidaskClub upgraded Appian from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. SunTrust Banks started coverage on Appian in a research note on Tuesday, November 21st. They issued a “buy” rating and a $28.00 price target on the stock. Zacks Investment Research upgraded Appian from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, November 7th. Morgan Stanley boosted their price target on Appian from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, November 3rd. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Appian in a research note on Monday, November 6th. 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 given a strong buy rating to the company. Appian presently has an average rating of “Hold” and an average price target of $23.57.
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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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