Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,350,000 shares, a growth of 40.7% from the February 28th total of 1,670,000 shares. Approximately 6.1% of the shares of the company are short sold. Based on an average trading volume of 502,400 shares, the short-interest ratio is currently 4.7 days.

Insider Transactions at Appian

In related news, Director Albert G.W. Biddle III sold 990 shares of Appian stock in a transaction on Monday, February 24th. The stock was sold at an average price of $33.21, for a total transaction of $32,877.90. Following the completion of the sale, the director now owns 29,348 shares of the company's stock, valued at approximately $974,647.08. This trade represents a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 44.00% of the company's stock.

Hedge Funds Weigh In On Appian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Abdiel Capital Advisors LP increased its holdings in Appian by 72.6% in the 3rd quarter. Abdiel Capital Advisors LP now owns 10,169,273 shares of the company's stock worth $347,179,000 after buying an additional 4,278,969 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Appian by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 5,028,472 shares of the company's stock valued at $165,839,000 after purchasing an additional 23,890 shares during the last quarter. Lead Edge Capital Management LLC lifted its position in Appian by 5.7% during the fourth quarter. Lead Edge Capital Management LLC now owns 1,528,085 shares of the company's stock valued at $50,396,000 after purchasing an additional 83,000 shares during the period. First Trust Advisors LP boosted its holdings in Appian by 7.1% in the fourth quarter. First Trust Advisors LP now owns 1,263,405 shares of the company's stock worth $41,667,000 after purchasing an additional 83,708 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Appian by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 972,203 shares of the company's stock worth $32,071,000 after purchasing an additional 14,710 shares during the period. 52.70% of the stock is owned by institutional investors.

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Appian Stock Up 2.0 %

Shares of Appian stock traded up $0.57 during trading on Wednesday, reaching $29.48. 497,573 shares of the stock were exchanged, compared to its average volume of 539,546. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -23.40 and a beta of 1.78. Appian has a 1 year low of $26.28 and a 1 year high of $43.33. The stock's fifty day moving average is $32.33 and its 200 day moving average is $34.15.

Appian (NASDAQ:APPN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. The business's revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. Equities analysts forecast that Appian will post -0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on APPN shares. Barclays upped their target price on Appian from $34.00 to $37.00 and gave the stock an "underweight" rating in a research note on Friday, December 6th. KeyCorp restated a "sector weight" rating on shares of Appian in a research report on Tuesday, January 14th. Finally, Scotiabank began coverage on Appian in a research note on Monday, January 6th. They issued a "sector perform" rating and a $37.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Appian has an average rating of "Hold" and a consensus target price of $37.80.

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.