Insider Buying: Appian Corporation (APPN) Major Shareholder Purchases 195,437 Shares of Stock

Appian Corporation (NASDAQ:APPN) major shareholder Qualified Master Fund L. Abdiel acquired 195,437 shares of the stock in a transaction dated Monday, July 31st. The stock was acquired at an average price of $19.46 per share, with a total value of $3,803,204.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Corporation (NASDAQ APPN) traded up 1.33% on Friday, reaching $20.52. 52,548 shares of the company’s stock were exchanged. The stock’s market cap is $1.23 billion. The company’s 50 day moving average is $19.60 and its 200-day moving average is $19.03. Appian Corporation has a one year low of $10.04 and a one year high of $23.28.

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A number of equities research analysts recently commented on APPN shares. Morgan Stanley started coverage on shares of Appian Corporation in a report on Monday, June 19th. They set an “equal weight” rating and a $18.00 price target for the company. Goldman Sachs Group, Inc. (The) started coverage on shares of Appian Corporation in a report on Monday, June 19th. They set a “neutral” rating and a $17.00 price target for the company. Canaccord Genuity started coverage on shares of Appian Corporation in a report on Monday, June 19th. They set a “hold” rating and a $18.00 price target for the company. Barclays PLC started coverage on shares of Appian Corporation in a report on Monday, June 19th. They set an “equal weight” rating and a $19.00 price target for the company. Finally, Cowen and Company started coverage on shares of Appian Corporation in a report on Monday, June 19th. They set an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.50.

Several hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new stake in Appian Corporation during the second quarter valued at $238,000. Whale Rock Capital Management LLC purchased a new stake in Appian Corporation during the second quarter valued at $4,447,000. Goldman Sachs Group Inc. purchased a new stake in Appian Corporation during the second quarter valued at $370,000. Abdiel Capital Advisors LP purchased a new stake in Appian Corporation during the second quarter valued at $56,982,000. Finally, Citadel Advisors LLC purchased a new stake in Appian Corporation during the second quarter valued at $825,000. Hedge funds and other institutional investors own 6.25% of the company’s stock.

Appian Corporation 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.

Insider Buying and Selling by Quarter for Appian Corporation (NASDAQ:APPN)

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