Insider Buying: Appian Corp (APPN) Major Shareholder Acquires $4,211,032.09 in Stock
Appian Corp (NASDAQ:APPN) major shareholder Qualified Master Fund L. Abdiel purchased 208,777 shares of the business’s stock in a transaction on Monday, December 11th. The shares were acquired at an average cost of $20.17 per share, for a total transaction of $4,211,032.09. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Appian Corp (APPN) opened at $20.59 on Thursday. Appian Corp has a fifty-two week low of $14.60 and a fifty-two week high of $28.65.
Several equities research analysts have commented on the stock. William Blair assumed coverage on shares of Appian in a research report on Monday, November 27th. They set an “outperform” rating on the stock. SunTrust Banks assumed coverage on shares of Appian in a research report on Tuesday, November 21st. They set a “buy” rating and a $28.00 price target on the stock. Zacks Investment Research raised shares of Appian from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, November 7th. Canaccord Genuity reissued a “hold” rating on shares of Appian in a research report on Monday, November 6th. Finally, Morgan Stanley boosted their price target on shares of Appian from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, November 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $22.00.
Hedge funds have recently modified their holdings of the company. LMR Partners LLP bought a new stake in shares of Appian in the 2nd quarter valued at about $201,000. New York State Common Retirement Fund bought a new stake in shares of Appian in the 3rd quarter valued at about $205,000. Tower Research Capital LLC TRC bought a new stake in shares of Appian in the 2nd quarter valued at about $238,000. Neuberger Berman Group LLC bought a new stake in shares of Appian in the 2nd quarter valued at about $292,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Appian in the 2nd quarter valued at about $323,000. 11.61% of the stock is currently owned by institutional investors.
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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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