Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 3,490,000 shares, a growth of 16.3% from the August 15th total of 3,000,000 shares. Currently, 9.0% of the shares of the stock are sold short. Based on an average daily volume of 681,200 shares, the short-interest ratio is presently 5.1 days.

Appian Stock Up 1.8 %

Shares of NASDAQ:APPN opened at $33.47 on Tuesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -22.77 and a beta of 1.56. The company has a 50 day moving average of $32.24 and a 200-day moving average of $33.09. Appian has a one year low of $26.28 and a one year high of $47.24.

Appian (NASDAQ:APPN) last released its earnings results on Thursday, August 1st. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.05. The firm had revenue of $146.50 million during the quarter, compared to analyst estimates of $142.87 million. Appian had a negative net margin of 18.80% and a negative return on equity of 532.05%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.55) EPS. On average, sell-side analysts forecast that Appian will post -1.07 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Abdiel Capital Advisors, Lp acquired 21,769 shares of the stock in a transaction dated Wednesday, September 11th. The shares were bought at an average cost of $31.20 per share, for a total transaction of $679,192.80. Following the purchase, the insider now owns 10,070,799 shares in the company, valued at approximately $314,208,928.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired 2,366,348 shares of company stock valued at $75,988,287 over the last quarter. 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 stock. Neo Ivy Capital Management bought a new position in Appian during the 2nd quarter worth approximately $65,000. Concord Wealth Partners bought a new position in shares of Appian during the first quarter worth $85,000. Canada Pension Plan Investment Board acquired a new position in shares of Appian in the 2nd quarter valued at $96,000. nVerses Capital LLC bought a new stake in shares of Appian in the 2nd quarter valued at $105,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Appian during the 2nd quarter worth $121,000. Institutional investors own 52.70% of the company’s stock.

Analysts Set New Price Targets

APPN has been the subject of a number of recent analyst reports. Barclays dropped their target price on shares of Appian from $32.00 to $29.00 and set an “underweight” rating for the company in a research report on Monday, August 5th. The Goldman Sachs Group reduced their price objective on Appian from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. DA Davidson lowered Appian from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. KeyCorp lowered shares of Appian from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Finally, William Blair downgraded Appian from an “outperform” rating to a “market perform” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Appian presently has a consensus rating of “Hold” and an average target price of $39.20.

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.