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

Appian Co. (NASDAQ:APPN) was the target of a large decrease in short interest in 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 daily trading volume, of 486,900 shares, the short-interest ratio is presently 3.5 days. Approximately 4.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research firms have commented on APPN. Barclays increased their price objective on shares of Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a report on Friday, December 6th. KeyCorp reissued a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. DA Davidson restated a “neutral” rating and set a $33.00 target price on shares of Appian in a research report on Monday, October 14th. Finally, Scotiabank began coverage on Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price for the company. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.17.

Appian Stock Performance

NASDAQ:APPN traded up $0.18 during trading hours on Friday, reaching $35.35. The company’s stock had a trading volume of 78,136 shares, compared to its average volume of 379,185. The company has a market capitalization of $3.02 billion, a P/E ratio of -28.98 and a beta of 1.61. Appian has a 12 month low of $26.28 and a 12 month high of $43.33. The stock has a 50 day moving average price of $35.61 and a two-hundred day moving average price of $34.20.

Insiders Place Their Bets

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 value of $27,146.00. Following the completion of the sale, the director now owns 7,966 shares in the company, valued at approximately $308,921.48. This represents a 8.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 44.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Appian

A number of large investors have recently bought and sold shares of APPN. Abdiel Capital Advisors LP increased its position in shares of Appian by 72.6% during the third quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company’s stock worth $347,179,000 after purchasing an additional 4,278,969 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Appian by 282.8% during the 3rd 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 boosted its stake in shares of Appian by 285.9% during the 3rd 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 boosted its stake in shares of Appian by 354.7% during the 3rd 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 raised its position in shares of Appian by 41.4% during the 3rd quarter. King Luther Capital Management Corp now owns 143,161 shares of the company’s stock worth $4,888,000 after purchasing an additional 41,922 shares during the last quarter. Institutional investors own 52.70% of the company’s stock.

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.