Appian Co. (NASDAQ:APPN) Sees Large Drop in Short Interest

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

Appian Stock Performance

NASDAQ APPN traded down $0.08 on Friday, reaching $35.09. 327,632 shares of the stock traded hands, compared to its average volume of 360,745. Appian has a 12 month low of $26.28 and a 12 month high of $43.33. The company has a fifty day moving average price of $35.54 and a 200-day moving average price of $34.20. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -28.76 and a beta of 1.61.

Analyst Ratings Changes

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

Insider Buying and Selling

In other 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 value of $27,146.00. Following the completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 44.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Appian

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in Appian during the third quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after buying an additional 1,088 shares during the last quarter. FMR LLC raised its stake in shares of Appian by 199.4% during the 3rd quarter. FMR LLC now owns 5,935 shares of the company’s stock worth $203,000 after acquiring an additional 3,953 shares in the last quarter. Entropy Technologies LP purchased a new stake in Appian during the fourth quarter valued at approximately $208,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Appian in the third quarter valued at approximately $266,000. Institutional investors own 52.70% of the company’s stock.

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.