Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN) saw a significant drop in short interest in 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. Based on an average daily trading volume, of 485,700 shares, the short-interest ratio is presently 4.2 days. Approximately 5.3% of the shares of the stock are short sold.

Appian Price Performance

Shares of NASDAQ APPN opened at $37.29 on Tuesday. The company has a 50-day simple moving average of $36.23 and a 200-day simple moving average of $33.17. The company has a market cap of $3.18 billion, a PE ratio of -30.57 and a beta of 1.57. Appian has a 12 month low of $26.28 and a 12 month high of $43.33.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. 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. Barclays increased their target price on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Appian has a consensus rating of “Hold” and a consensus price target of $40.80.

Insider Buying and Selling at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp bought 1,712 shares of the stock in a transaction on Wednesday, September 25th. The shares were bought at an average price of $32.91 per share, with a total value of $56,341.92. Following the completion of the acquisition, the insider now owns 10,169,273 shares of the company’s stock, valued at approximately $334,670,774.43. This trade represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders purchased 47,284 shares of company stock valued at $1,576,487. Corporate insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Appian in the third quarter valued at $29,000. Neo Ivy Capital Management purchased a new stake in Appian in the 2nd quarter valued at about $65,000. Canada Pension Plan Investment Board acquired a new position in shares of Appian during the 2nd quarter valued at about $96,000. nVerses Capital LLC purchased a new position in shares of Appian during the 2nd quarter worth about $105,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Appian during the 2nd quarter worth about $121,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

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.