Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 2,290,000 shares, a decline of 7.3% from the October 31st total of 2,470,000 shares. Based on an average trading volume of 479,700 shares, the days-to-cover ratio is presently 4.8 days. Approximately 6.0% of the shares of the company are short sold.

Appian Stock Performance

Shares of NASDAQ APPN opened at $38.86 on Tuesday. The company has a market capitalization of $3.32 billion, a PE ratio of -31.85 and a beta of 1.57. The company’s fifty day moving average price is $35.23 and its 200 day moving average price is $32.63. Appian has a 1 year low of $26.28 and a 1 year high of $43.33.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp purchased 23,053 shares of Appian stock in a transaction on Monday, September 9th. The stock was bought at an average cost of $30.22 per share, with a total value of $696,661.66. Following the transaction, the insider now owns 10,036,046 shares of the company’s stock, valued at $303,289,310.12. This represents a 0.23 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders bought 121,107 shares of company stock valued at $3,871,494. 44.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Appian

Several hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its position in shares of Appian by 3.0% during the 2nd 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 holdings in Appian by 0.6% in 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 increased its stake in Appian by 3.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock worth $740,000 after buying an additional 686 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Appian by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,002 shares of the company’s stock valued at $648,000 after acquiring an additional 689 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Appian in the third quarter valued at approximately $29,000. 52.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on APPN shares. DA Davidson reissued a “neutral” rating and set a $33.00 target price on shares of Appian in a report on Monday, October 14th. Barclays lifted their price objective on Appian from $29.00 to $34.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.20.

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.