Short Interest in Appian Co. (NASDAQ:APPN) Drops By 12.7%

Appian Co. (NASDAQ:APPN) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 1,720,000 shares, a decrease of 12.7% from the December 15th total of 1,970,000 shares. Based on an average daily trading volume, of 486,900 shares, the short-interest ratio is presently 3.5 days. Approximately 4.5% of the shares of the stock are sold short.

Insider Transactions at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the transaction, the director now directly owns 7,966 shares in the company, valued at approximately $308,921.48. This represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APPN. Barclays PLC boosted its position in shares of Appian by 285.9% in the third quarter. Barclays PLC now owns 71,771 shares of the company’s stock valued at $2,451,000 after acquiring an additional 53,172 shares during the period. Abdiel Capital Advisors LP lifted its holdings in shares of Appian by 72.6% during the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after acquiring an additional 4,278,969 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Appian by 282.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock worth $4,584,000 after buying an additional 99,198 shares during the last quarter. Empyrean Capital Partners LP bought a new stake in shares of Appian in the 2nd quarter worth approximately $7,715,000. Finally, 272 Capital LP bought a new position in shares of Appian during the 2nd quarter valued at $2,179,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Appian Trading Down 2.1 %

Shares of NASDAQ APPN traded down $0.71 during mid-day trading on Friday, hitting $33.08. The company had a trading volume of 100,518 shares, compared to its average volume of 356,491. The stock’s 50-day moving average price is $36.61 and its 200-day moving average price is $34.03. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -27.05 and a beta of 1.61. Appian has a 1 year low of $26.28 and a 1 year high of $43.33.

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.