Appian Target of Unusually Large Options Trading (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN - Get Free Report) was the target of some unusual options trading on Tuesday. Stock traders acquired 8,227 put options on the company. This represents an increase of approximately 1,639% compared to the average volume of 473 put options.

Appian Stock Down 5.2 %

Shares of APPN traded down $1.74 during trading hours on Friday, hitting $31.75. The company had a trading volume of 337,404 shares, compared to its average volume of 368,571. The firm has a market cap of $2.71 billion, a P/E ratio of -26.10 and a beta of 1.64. The stock's 50 day moving average price is $34.76 and its 200 day moving average price is $34.09. Appian has a 52-week low of $26.28 and a 52-week high of $43.33.

Insider Buying and Selling at Appian

In other Appian news, Director William D. Mccarthy sold 700 shares of the firm's stock in a transaction dated 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 owns 7,966 shares in the company, 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 this hyperlink. Company insiders own 44.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Appian in the third quarter worth about $29,000. Canada Pension Plan Investment Board grew its stake in shares of Appian by 27.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock worth $76,000 after purchasing an additional 500 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Appian by 1,244.8% in the fourth quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock worth $125,000 after purchasing an additional 3,498 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Appian in the fourth quarter worth about $181,000. Finally, FMR LLC grew its stake in shares of Appian by 199.4% in the third quarter. FMR LLC now owns 5,935 shares of the company's stock worth $203,000 after purchasing an additional 3,953 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays raised their price target on Appian from $34.00 to $37.00 and gave the company an "underweight" rating in a research report on Friday, December 6th. Scotiabank initiated coverage on Appian in a report on Monday, January 6th. They issued a "sector perform" rating and a $37.00 price objective on the stock. Finally, KeyCorp reiterated a "sector weight" rating on shares of Appian in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Appian presently has an average rating of "Hold" and an average target price of $40.17.

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.