Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN) was the target of a significant growth in short interest in 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 company’s stock are sold short. Based on an average daily volume of 502,400 shares, the short-interest ratio is currently 4.7 days.

Insider Buying and Selling at Appian

In related news, Director Albert G.W. Biddle III sold 990 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were 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 $974,647.08. This trade represents a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 44.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPN. Oppenheimer & Co. Inc. lifted its position in Appian by 5.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,200 shares of the company’s stock valued at $270,000 after acquiring an additional 400 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Appian by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,242 shares of the company’s stock worth $2,739,000 after purchasing an additional 491 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Appian by 27.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company’s stock valued at $76,000 after purchasing an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Appian by 3.3% in the third quarter. The Manufacturers Life Insurance Company now owns 21,688 shares of the company’s stock valued at $740,000 after acquiring an additional 686 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Appian in the fourth quarter valued at about $35,000. 52.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APPN has been the subject of a number of research analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Appian in a research note on Tuesday, January 14th. Barclays increased their price objective on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, December 6th. Finally, Scotiabank began coverage on shares of Appian in a report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.80.

Appian Stock Down 1.8 %

APPN stock opened at $28.81 on Tuesday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -22.87 and a beta of 1.65. Appian has a twelve month low of $26.28 and a twelve month high of $43.33. The firm’s fifty day simple moving average is $32.49 and its two-hundred day simple moving average is $34.21.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $164.31 million. During the same period in the prior year, the business earned $0.06 EPS. The company’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities research analysts expect that Appian will post -0.28 EPS for the current year.

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.