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 December. As of December 31st, there was short interest totalling 1,720,000 shares, a decrease of 12.7% from the December 15th total of 1,970,000 shares. Approximately 4.5% of the company’s stock are short sold. Based on an average daily volume of 486,900 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analyst Weigh In

APPN has been the subject of a number of research analyst reports. Scotiabank started coverage on shares of Appian in a research report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 target price for the company. DA Davidson reaffirmed a “neutral” rating and issued a $33.00 price objective on shares of Appian in a report on Monday, October 14th. KeyCorp reissued a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Finally, Barclays boosted their price target on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.17.

Insider Activity at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of the stock in a transaction 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 sale, the director now directly owns 7,966 shares in the company, valued at approximately $308,921.48. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 44.00% of the stock is currently owned by insiders.

Institutional Trading of Appian

Several hedge funds have recently modified their holdings of APPN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 valued at $2,739,000 after acquiring an additional 491 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake 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 purchasing an additional 686 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Appian in the 3rd quarter worth approximately $29,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Appian by 35.8% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,126 shares of the company’s stock worth $127,000 after purchasing an additional 1,088 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Appian by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 59,779 shares of the company’s stock valued at $1,845,000 after purchasing an additional 1,386 shares during the last quarter. 52.70% of the stock is owned by hedge funds and other institutional investors.

Appian Price Performance

Shares of NASDAQ:APPN traded down $0.99 during mid-day trading on Friday, reaching $32.80. The stock had a trading volume of 290,975 shares, compared to its average volume of 315,719. The business’s 50 day moving average price is $36.30 and its 200 day moving average price is $34.07. Appian has a 1 year low of $26.28 and a 1 year high of $43.33.

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.