Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Appian Corp shares valued at $12,976,000 were sold by Abdiel Capital Advisors, LP on Feb 21 ’24. At $32.44 per share, Abdiel Capital Advisors, LP sold 400,000 shares. The insider’s holdings dropped to 5,890,304 shares worth approximately $205.34 million following the completion of this transaction.
Also, Abdiel Capital Advisors, LP sold 248,000 shares, netting a total of over 8,283,680 in proceeds. Following the sale of shares at $33.40 each, the insider now holds 6,290,304 shares.
Before that, Abdiel Capital Advisors, LP had sold 29,126 shares from its account. In a trade valued at $977,710, the 10% Owner traded Appian Corp shares for $33.57 each. Upon closing the transaction, the insider’s holdings decreased to 29,126 shares, worth approximately $227.93 million.
As published in a research note from Citigroup on January 11, 2024, Appian Corp [APPN] has been rated up from a Neutral to a Buy and the price target has been revised to $45 from $47. Analysts at DA Davidson upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early November. As of June 06, 2023, DA Davidson has initiated its “Neutral” rating for APPN. Earlier on January 09, 2023, SMBC Nikko downgraded its rating. Their new recommendation was “an Underperform” for APPN stock which previously was a “a Neutral”.
Analyzing APPN Stock Performance
During the last five days, there has been a drop of approximately -12.10%. Over the course of the year, Appian Corp shares have dropped approximately -7.43%. Shares of the company reached a 52-week high of $42.17 on 04/09/24 and a 52-week low of $30.87 on 02/05/24. A 50-day SMA is recorded $36.18, while a 200-day SMA reached $40.39. Nevertheless, trading volume fell to 0.64 million shares from 0.79 million shares the previous day.
Support And Resistance Levels for Appian Corp (APPN)
According to the 24-hour chart, there is a support level at 34.16, which, if violated, would cause prices to drop to 33.45. In the upper region, resistance lies at 35.70. The next price resistance is at 36.54. RSI (Relative Strength Index) is 39.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.36, which suggests the price will decrease in the coming days. Percent R is at 92.77%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
