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 $346,444 were purchased by Abdiel Capital Advisors, LP on Oct 01 ’24. At $33.75 per share, Abdiel Capital Advisors, LP acquired 10,265 shares. The insider’s holdings grew to 10,179,538 shares worth approximately $412.27 million following the completion of this transaction.
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Also, Abdiel Capital Advisors, LP purchased 25,561 shares, netting a total of over 840,190 in proceeds. Following the buying of shares at $32.87 each, the insider now holds 10,167,561 shares.
Before that, Abdiel Capital Advisors, LP had added 15,552 shares to its account. In a trade valued at $514,460, the 10% Owner bought Appian Corp shares for $33.08 each. Upon closing the transaction, the insider’s holdings increased to 15,552 shares, worth approximately $410.75 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 surge of approximately 14.73%. Over the course of the year, Appian Corp shares have jumped approximately 7.54%. 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 $32.98, while a 200-day SMA reached $33.25. Nevertheless, trading volume fell to 1.05 million shares from 0.73 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 39.18, which, if violated, would cause prices to drop to 37.86. In the upper region, resistance lies at 41.71. The next price resistance is at 42.92. RSI (Relative Strength Index) is 81.62 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.38, which suggests the price will increase in the coming days. Percent R is at 9.80%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
