Appian Corp’s recently made public that its 10% Owner Abdiel Capital Advisors, LP acquired Company’s shares for reported $0.35 million on Oct 01 ’24. In the deal valued at $33.75 per share,10,265 shares were bought. As a result of this transaction, Abdiel Capital Advisors, LP now holds 10,179,538 shares worth roughly $349.57 million.
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Then, Abdiel Capital Advisors, LP bought 25,561 shares, generating $840,190 in total proceeds. Upon buying the shares at $32.87, the 10% Owner now owns 10,167,561 shares.
Before that, Abdiel Capital Advisors, LP bought 15,552 shares. Appian Corp shares valued at $514,460 were divested by the 10% Owner at a price of $33.08 per share. As a result of the transaction, Abdiel Capital Advisors, LP now holds 10,142,000 shares, worth roughly $348.28 million.
KeyBanc Capital Markets downgraded its Appian Corp [APPN] rating to a Sector weight from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including William Blair’s analysts, who decreased its forecast for the stock in early August from “an Outperform” to “a Mkt perform”. DA Davidson also remained covering APPN and has decreased its forecast on July 31, 2024 with a “Neutral” recommendation from previously “Buy” rating. Citigroup revised its rating on January 11, 2024. It rated APPN as “a Buy” which previously was an “a Neutral”.
Price Performance Review of APPN
On Tuesday, Appian Corp [NASDAQ:APPN] saw its stock jump 2.88% to $34.34. Over the last five days, the stock has gained 10.52%. Appian Corp shares have fallen nearly -8.82% since the year began. Nevertheless, the stocks have fallen -14.11% over the past one year. While a 52-week high of $42.99 was reached on 04/09/24, a 52-week low of $26.28 was recorded on 06/18/24. SMA at 50 days reached $32.27, while 200 days put it at $33.12.
Levels Of Support And Resistance For APPN Stock
The 24-hour chart illustrates a support level at 33.33, which if violated will result in even more drops to 32.33. On the upside, there is a resistance level at 34.94. A further resistance level may holdings at 35.55. The Relative Strength Index (RSI) on the 14-day chart is 63.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.59, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.80%. Stochastics %K at 83.89% indicates the stock is a selling.
How much short interest is there in Appian Corp?
A steep rise in short interest was recorded in Appian Corp stocks on 2024-10-15, dropping by -0.86 million shares to a total of 2.59 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 3.45 million shares. There was a decline of -33.2%, which implies that there is a negative sentiment for the stock.
