Appian Co. (NASDAQ:APPN) Short Interest Down 11.4% in November

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

Insider Buying and Selling at Appian

In related 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 transaction of $27,146.00. Following the completion of the sale, the director now owns 7,966 shares of the company’s stock, valued at $308,921.48. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Abdiel Capital Advisors, Lp acquired 7,957 shares of Appian stock in a transaction dated Friday, September 20th. The shares were bought at an average cost of $33.55 per share, with a total value of $266,957.35. Following the transaction, the insider now owns 10,126,448 shares in the company, valued at approximately $339,742,330.40. This trade represents a 0.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 47,284 shares of company stock valued at $1,576,487. 44.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Appian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in shares of Appian during the second quarter valued at approximately $65,000. Bank of New York Mellon Corp lifted its stake in Appian by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock valued at $4,443,000 after purchasing an additional 13,046 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Appian by 36.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,280 shares of the company’s stock valued at $348,000 after purchasing an additional 2,993 shares during the last quarter. Crossmark Global Holdings Inc. grew 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 valued at $299,000 after purchasing an additional 280 shares during the period. Finally, nVerses Capital LLC purchased a new stake in Appian in the second quarter worth $105,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Price Performance

APPN opened at $36.82 on Monday. The firm’s fifty day moving average price is $36.14 and its two-hundred day moving average price is $33.11. The company 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.

Analyst Upgrades and Downgrades

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

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.