The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Appian Corp shares valued at $722,456 were purchased by Abdiel Capital Advisors, LP on Aug 28 ’24. At $31.24 per share, Abdiel Capital Advisors, LP acquired 23,126 shares. The insider’s holdings grew to 9,882,783 shares worth approximately $309.23 million following the completion of this transaction.
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Also, Abdiel Capital Advisors, LP purchased 21,844 shares, netting a total of over 689,834 in proceeds. Following the buying of shares at $31.58 each, the insider now holds 9,859,657 shares.
Before that, Abdiel Capital Advisors, LP had added 11,930 shares to its account. In a trade valued at $384,504, the 10% Owner bought Appian Corp shares for $32.23 each. Upon closing the transaction, the insider’s holdings increased to 11,930 shares, worth approximately $309.61 million.
As published in a research note from KeyBanc Capital Markets on August 02, 2024, Appian Corp [APPN] has been rated down from an Overweight to a Sector weight. Analysts at William Blair downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early August. As of July 31, 2024, DA Davidson has decreased its “Buy” rating to a “Neutral” for APPN. Earlier on January 11, 2024, Citigroup upgraded its rating. Their new recommendation was “a Buy” 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 -0.89%. Over the course of the year, Appian Corp shares have dropped approximately -16.91%. Shares of the company reached a 52-week high of $42.17 on 04/09/24 and a 52-week low of $26.28 on 06/18/24. A 50-day SMA is recorded $32.06, while a 200-day SMA reached $33.94. Nevertheless, trading volume fell to 0.26 million shares from 0.44 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 30.91, which, if violated, would cause prices to drop to 30.53. In the upper region, resistance lies at 31.78. The next price resistance is at 32.27. RSI (Relative Strength Index) is 48.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.34, which suggests the price will decrease in the coming days. Percent R is at 65.33%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
