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

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

Analysts Set New Price Targets

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

Insider Buying and Selling at Appian

In related news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction 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 sale, the director now directly owns 7,966 shares in the company, valued at $308,921.48. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 44.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Appian

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Abdiel Capital Advisors LP increased its position in shares of Appian by 72.6% in the third 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 in the last quarter. BNP Paribas Financial Markets increased its position in shares of Appian by 282.8% in the third quarter. BNP Paribas Financial Markets now owns 134,274 shares of the company’s stock worth $4,584,000 after acquiring an additional 99,198 shares in the last quarter. Barclays PLC increased 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 worth $2,451,000 after acquiring an additional 53,172 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Appian by 354.7% in the third quarter. GSA Capital Partners LLP now owns 57,630 shares of the company’s stock worth $1,967,000 after acquiring an additional 44,957 shares in the last quarter. Finally, King Luther Capital Management Corp increased its position in shares of Appian by 41.4% in the third quarter. King Luther Capital Management Corp now owns 143,161 shares of the company’s stock worth $4,888,000 after acquiring an additional 41,922 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Appian Price Performance

APPN stock traded up $0.18 on Friday, hitting $35.35. 78,136 shares of the company were exchanged, compared to its average volume of 379,185. Appian has a twelve month low of $26.28 and a twelve month high of $43.33. The business’s fifty day moving average is $35.61 and its two-hundred day moving average is $34.20. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -28.98 and a beta of 1.61.

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.