Appian Corporation (NASDAQ:APPN) Sees Significant Decrease in Short Interest

Key Points

• Appian Corporation experienced a 23.6% decline in short interest during July, totaling 2,850,000 shares, which represents 7.3% of the company's shares currently being shorted.
• Several analysts have updated their ratings and price targets for Appian, with Citigroup giving it a Buy rating and raising the price objective to $41.00, while the current consensus rating is Hold with an average price target of $33.40.
• The company reported a revenue increase of 16.5% year-over-year, with quarterly earnings of ($0.14) per share, missing estimates by one cent.

Appian Corporation (NASDAQ:APPN - Get Free Report) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 2,850,000 shares, adeclineof23.6% from the July 15th total of 3,730,000 shares. Approximately7.3% of the company's stock are sold short. Based on an average daily volume of 774,800 shares, the short-interest ratio is presently 3.7 days. Based on an average daily volume of 774,800 shares, the short-interest ratio is presently 3.7 days. Approximately7.3% of the company's stock are sold short.

Insider Transactions at Appian

In related news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $31.83, for a total value of $9,549,000.00. Following the transaction, the insider owned 8,430,391 shares in the company, valued at $268,339,345.53. The trade was a 3.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 1,389,344 shares of company stock valued at $44,228,743. Insiders own 44.00% of the company's stock.

Institutional Investors Weigh In On Appian

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its position in shares of Appian by 1,244.8% during the 4th quarter. Russell Investments Group Ltd. now owns 3,779 shares of the company's stock valued at $125,000 after purchasing an additional 3,498 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Appian by 2,716.2% during the 1st quarter. GAMMA Investing LLC now owns 6,252 shares of the company's stock valued at $1,800,000 after purchasing an additional 6,030 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Appian during the 1st quarter valued at about $373,000. Raymond James Financial Inc. purchased a new stake in shares of Appian during the 4th quarter valued at about $1,688,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 worth $2,897,000 after acquiring an additional 7,594 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APPN. Citigroup boosted their target price on Appian from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Zacks Research raised Appian to a "strong-buy" rating in a research report on Monday, August 11th. DA Davidson began coverage on Appian in a research report on Friday, August 8th. They issued a "neutral" rating and a $30.00 target price for the company. Barclays boosted their target price on Appian from $28.00 to $33.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. Finally, Morgan Stanley boosted their target price on Appian from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $33.40.

Appian Stock Performance

Shares of NASDAQ APPN traded down $0.49 during midday trading on Tuesday, hitting $28.62. 627,361 shares of the company's stock traded hands, compared to its average volume of 1,189,739. Appian has a 1 year low of $24.00 and a 1 year high of $43.33. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -124.43 and a beta of 1.75. The firm has a fifty day moving average of $29.23 and a 200 day moving average of $30.18.

Appian (NASDAQ:APPN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $170.64 million for the quarter, compared to analysts' expectations of $160.01 million. During the same period in the prior year, the firm earned ($0.26) earnings per share. The firm's revenue was up 16.5% on a year-over-year basis. Appian has set its FY 2025 guidance at 0.280-0.360 EPS. Q3 2025 guidance at 0.030-0.070 EPS. On average, equities analysts anticipate that Appian will post -0.28 earnings per share 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.