Appian Co. (NASDAQ:APPN) Sees Large Increase in Short Interest

Appian Co. (NASDAQ:APPN - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,130,000 shares, a growth of 33.2% from the March 15th total of 2,350,000 shares. Based on an average daily trading volume, of 555,100 shares, the short-interest ratio is presently 5.6 days. Approximately 8.1% of the company's shares are sold short.

Appian Stock Performance

NASDAQ:APPN traded up $1.13 during mid-day trading on Thursday, hitting $30.69. 657,559 shares of the company's stock traded hands, compared to its average volume of 553,352. The company has a fifty day moving average of $29.86 and a 200 day moving average of $33.36. Appian has a twelve month low of $24.00 and a twelve month high of $43.33. The company has a market capitalization of $2.27 billion, a P/E ratio of -24.36 and a beta of 1.78.

Appian (NASDAQ:APPN - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The firm had revenue of $166.70 million during the quarter, compared to analysts' expectations of $164.31 million. Appian had a negative net margin of 14.95% and a negative return on equity of 532.05%. Appian's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. On average, research analysts expect that Appian will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Appian

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the firm's 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Abdiel Capital Advisors, Lp sold 57,975 shares of Appian stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $29.52, for a total transaction of $1,711,422.00. Following the transaction, the insider now directly owns 10,121,563 shares of the company's stock, valued at approximately $298,788,539.76. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,510 shares of company stock valued at $6,648,635 in the last quarter. Company insiders own 44.00% of the company's stock.

Hedge Funds Weigh In On Appian

A number of hedge funds have recently bought and sold shares of the business. Stanley Laman Group Ltd. lifted its stake in Appian by 11.1% in the 1st quarter. Stanley Laman Group Ltd. now owns 158,675 shares of the company's stock valued at $4,571,000 after buying an additional 15,815 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Appian by 165.5% in the first quarter. SG Americas Securities LLC now owns 15,809 shares of the company's stock valued at $455,000 after acquiring an additional 9,855 shares in the last quarter. Rhumbline Advisers increased its position in shares of Appian by 4.4% during the first quarter. Rhumbline Advisers now owns 60,088 shares of the company's stock worth $1,731,000 after purchasing an additional 2,528 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Appian by 2,716.2% during the first quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock worth $1,800,000 after purchasing an additional 6,030 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Appian by 9.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,836 shares of the company's stock valued at $2,897,000 after purchasing an additional 7,594 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Morgan Stanley reduced their target price on Appian from $35.00 to $27.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. DA Davidson reduced their price objective on Appian from $40.00 to $28.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Citigroup lowered their price target on shares of Appian from $53.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday. KeyCorp reaffirmed a "sector weight" rating on shares of Appian in a research note on Tuesday, January 14th. Finally, Barclays cut their price objective on shares of Appian from $37.00 to $28.00 and set an "underweight" rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Appian currently has a consensus rating of "Hold" and a consensus price target of $34.14.

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.