Short Interest in Appian Co. (NASDAQ:APPN) Declines By 11.4%

Appian Co. (NASDAQ:APPN) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 2,030,000 shares, a drop of 11.4% from the November 15th total of 2,290,000 shares. Approximately 5.3% of the company’s shares are short sold. Based on an average daily volume of 485,700 shares, the days-to-cover ratio is currently 4.2 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barclays upped their price objective on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. DA Davidson restated a “neutral” rating and issued a $33.00 price target on shares of Appian in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.80.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp bought 1,712 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was bought at an average cost of $32.91 per share, for a total transaction of $56,341.92. Following the transaction, the insider now owns 10,169,273 shares of the company’s stock, valued at $334,670,774.43. This represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Mccarthy sold 700 shares of the stock in a transaction that occurred on 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 sale, the director now owns 7,966 shares in the company, valued at $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 48,770 shares of company stock valued at $1,625,495. 44.00% of the stock is currently owned by insiders.

Institutional Trading of Appian

A number of institutional investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its holdings in Appian by 3.0% during the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock worth $299,000 after purchasing an additional 280 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Appian by 0.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock worth $2,739,000 after buying an additional 491 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Appian by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock valued at $740,000 after acquiring an additional 686 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Appian in the 3rd quarter valued at about $29,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of Appian by 35.8% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock valued at $127,000 after acquiring an additional 1,088 shares during the last quarter. 52.70% of the stock is currently owned by institutional investors.

Appian Stock Performance

NASDAQ APPN traded down $1.65 on Friday, reaching $36.82. The company had a trading volume of 307,115 shares, compared to its average volume of 542,136. The company’s fifty day moving average is $36.14 and its 200-day moving average is $33.08. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -30.18 and a beta of 1.57. 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.