Appian (APPN) Rating Lowered to Hold at SunTrust Banks
SunTrust Banks lowered shares of Appian (NASDAQ:APPN) from a buy rating to a hold rating in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has $28.00 price objective on the stock.
A number of other brokerages also recently issued reports on APPN. Canaccord Genuity increased their target price on Appian from $19.00 to $22.00 and gave the stock a hold rating in a research note on Monday, October 30th. Cowen downgraded Appian from an outperform rating to a market perform rating and set a $23.00 target price for the company. in a research note on Monday, October 2nd. Zacks Investment Research raised Appian from a hold rating to a buy rating and set a $30.00 price objective for the company in a research note on Wednesday, September 13th. KeyCorp reaffirmed a hold rating on shares of Appian in a research note on Monday, September 18th. Finally, Morgan Stanley raised their price objective on Appian from $18.00 to $19.00 and gave the company an equal weight rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $22.86.
Shares of Appian (APPN) traded down $4.23 during mid-day trading on Monday, hitting $31.87. The stock had a trading volume of 1,442,300 shares, compared to its average volume of 1,340,767. Appian has a fifty-two week low of $14.60 and a fifty-two week high of $43.26.
In other Appian news, CEO Matthew W. Calkins sold 250,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $19.49, for a total transaction of $4,872,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Edward L. Hughes sold 100,000 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $19.49, for a total value of $1,949,000.00. Following the sale, the vice president now owns 100,000 shares in the company, valued at approximately $1,949,000. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,051,519 shares of company stock valued at $21,602,934 and sold 1,097,222 shares valued at $21,384,857.
A number of large investors have recently made changes to their positions in APPN. Abdiel Capital Advisors LP acquired a new stake in Appian during the 2nd quarter valued at $56,982,000. JPMorgan Chase & Co. acquired a new stake in Appian during the 2nd quarter valued at $8,303,000. Lord Abbett & CO. LLC acquired a new stake in Appian during the 2nd quarter valued at $8,134,000. Vanguard Group Inc. acquired a new stake in Appian during the 2nd quarter valued at $7,105,000. Finally, Whale Rock Capital Management LLC acquired a new stake in Appian during the 2nd quarter valued at $4,447,000. Hedge funds and other institutional investors 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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