Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 2,290,000 shares, a decrease of 7.3% from the October 31st total of 2,470,000 shares. Based on an average daily volume of 479,700 shares, the short-interest ratio is presently 4.8 days. Approximately 6.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

APPN has been the subject of a number of analyst reports. DA Davidson restated a “neutral” rating and issued a $33.00 price target on shares of Appian in a research report on Monday, October 14th. Barclays lifted their target price on Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Appian has a consensus rating of “Hold” and a consensus target price of $40.20.

Appian Stock Up 6.6 %

APPN traded up $2.54 during trading on Wednesday, reaching $41.15. The company’s stock had a trading volume of 125,898 shares, compared to its average volume of 545,754. Appian has a 1 year low of $26.28 and a 1 year high of $43.33. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -33.73 and a beta of 1.57. The firm has a fifty day simple moving average of $35.35 and a two-hundred day simple moving average of $32.66.

Insider Buying and Selling

In related news, Director William D. Mccarthy sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 owns 7,966 shares of the company’s stock, valued at $308,921.48. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Abdiel Capital Advisors, Lp purchased 23,053 shares of Appian stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $30.22 per share, with a total value of $696,661.66. Following the transaction, the insider now directly owns 10,036,046 shares of the company’s stock, valued at $303,289,310.12. This represents a 0.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 121,107 shares of company stock worth $3,871,494. Insiders own 44.00% of the company’s stock.

Institutional Trading of Appian

Institutional investors and hedge funds have recently made changes to their positions in the company. Abdiel Capital Advisors LP boosted its holdings in shares of Appian by 72.6% during the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after purchasing an additional 4,278,969 shares during the last quarter. 272 Capital LP acquired a new stake in Appian during the second quarter worth about $2,179,000. Empyrean Capital Partners LP bought a new stake in Appian in the second quarter valued at $7,715,000. AQR Capital Management LLC increased its position in Appian by 25.8% in the 2nd quarter. AQR Capital Management LLC now owns 78,150 shares of the company’s stock valued at $2,412,000 after acquiring an additional 16,031 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Appian by 88.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,639 shares of the company’s stock worth $2,412,000 after acquiring an additional 33,232 shares during the period. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Company Profile

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.