Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 3,870,000 shares, an increase of 15.2% from the May 31st total of 3,360,000 shares. Based on an average daily volume of 504,300 shares, the short-interest ratio is presently 7.7 days.

Insider Buying and Selling

In other Appian news, Director Albert G.W. Biddle III bought 3,225 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average price of $28.02 per share, for a total transaction of $90,364.50. Following the completion of the purchase, the director now owns 19,689 shares of the company’s stock, valued at $551,685.78. The acquisition was disclosed in a filing with the SEC, which is available through this link. 44.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Appian

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in Appian in the fourth quarter valued at $47,000. Concord Wealth Partners acquired a new position in shares of Appian during the first quarter worth about $85,000. Quest Partners LLC purchased a new stake in shares of Appian in the fourth quarter worth about $177,000. Victory Capital Management Inc. grew its stake in shares of Appian by 22.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,509 shares of the company’s stock valued at $207,000 after buying an additional 1,027 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Appian during the 4th quarter valued at about $210,000. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Appian Stock Performance

NASDAQ:APPN opened at $31.13 on Wednesday. Appian has a 52-week low of $26.28 and a 52-week high of $52.99. The stock has a fifty day simple moving average of $30.98 and a 200-day simple moving average of $34.08. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.68.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.09). Appian had a negative net margin of 19.20% and a negative return on equity of 204.82%. The business had revenue of $149.80 million during the quarter, compared to analysts’ expectations of $149.78 million. During the same period last year, the company earned ($0.42) EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts predict that Appian will post -1.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on APPN shares. Citigroup lifted their price objective on shares of Appian from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Barclays lowered their target price on shares of Appian from $36.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. William Blair restated an “outperform” rating on shares of Appian in a research report on Wednesday, March 20th. Finally, KeyCorp dropped their target price on Appian from $50.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.43.

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.