Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN - Get Free Report) was the target of a significant decrease in short interest during 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. Currently, 5.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 485,700 shares, the short-interest ratio is presently 4.2 days.

Appian Stock Performance

Shares of NASDAQ:APPN traded down $1.65 during mid-day trading on Friday, hitting $36.82. The stock had a trading volume of 307,115 shares, compared to its average volume of 542,136. The company's 50 day moving average is $36.14 and its 200-day moving average is $33.08. The company has a market cap of $3.14 billion, a PE ratio of -30.18 and a beta of 1.57. Appian has a 12-month low of $26.28 and a 12-month high of $43.33.

Analysts Set New Price Targets

Several analysts recently commented on APPN shares. DA Davidson reiterated a "neutral" rating and issued a $33.00 price objective on shares of Appian in a research note on Monday, October 14th. Barclays increased their target price 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Appian currently has a consensus rating of "Hold" and a consensus target price of $40.80.

Insider Activity

In related news, major shareholder Abdiel Capital Advisors, Lp bought 1,486 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average cost of $32.98 per share, with a total value of $49,008.28. Following the purchase, the insider now directly owns 10,088,411 shares of the company's stock, valued at $332,715,794.78. This trade represents a 0.01 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William D. Mccarthy sold 700 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders acquired 48,770 shares of company stock worth $1,625,495 over the last three months. Insiders own 44.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Appian in the third quarter valued at approximately $29,000. Neo Ivy Capital Management acquired a new stake in Appian during the 2nd quarter worth approximately $65,000. Canada Pension Plan Investment Board acquired a new stake in shares of Appian in the second quarter valued at approximately $96,000. nVerses Capital LLC bought a new stake in shares of Appian during the 2nd quarter valued at $105,000. Finally, Point72 Hong Kong Ltd bought a new position in Appian in the 2nd quarter valued at about $121,000. 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.