Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,720,000 shares, a drop of 12.7% from the December 15th total of 1,970,000 shares. Based on an average trading volume of 486,900 shares, the days-to-cover ratio is presently 3.5 days. Currently, 4.5% of the company’s shares are sold short.

Appian Stock Performance

APPN stock traded down $0.71 during trading on Friday, hitting $33.08. 100,518 shares of the company’s stock traded hands, compared to its average volume of 356,491. Appian has a 52 week low of $26.28 and a 52 week high of $43.33. The business has a fifty day simple moving average of $36.61 and a 200 day simple moving average of $34.03. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -27.05 and a beta of 1.61.

Insider Buying and Selling

In other news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the transaction, the director now directly owns 7,966 shares of the company’s stock, valued at approximately $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 44.00% of the stock is owned by corporate insiders.

Institutional Trading of Appian

A number of institutional investors have recently bought and sold shares of APPN. Allspring Global Investments Holdings LLC purchased a new stake in shares of Appian in the third quarter worth approximately $29,000. Canada Pension Plan Investment Board bought a new position in Appian during the 2nd quarter worth about $96,000. Point72 Hong Kong Ltd purchased a new stake in shares of Appian in the 2nd quarter worth approximately $121,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Appian by 35.8% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after purchasing an additional 1,088 shares in the last quarter. Finally, FMR LLC raised its stake in Appian by 199.4% in the third quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after buying an additional 3,953 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on APPN. KeyCorp reiterated a “sector weight” rating on shares of Appian in a report on Tuesday. Scotiabank started coverage on shares of Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price for the company. DA Davidson reiterated a “neutral” rating and issued a $33.00 price target on shares of Appian in a research report on Monday, October 14th. Finally, Barclays upped their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Appian presently has an average rating of “Hold” and a consensus price target of $40.17.

About Appian

Appian Corporation, a software company that provides low-code design platform in the United States, Mexico, Portugal, and internationally. The company's platform offers artificial intelligence, process automation, data fabric, and process mining. It provides The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize mission-critical business processes.