Investors Buy High Volume of Appian Put Options (NASDAQ:APPN)

Key Points

• Investors purchased a significant volume of 30,082 put options for Appian Corporation, marking a 1,317% increase from the average daily volume.
• Appian's stock is currently rated as "Hold" by most analysts, with a consensus price target of $33.40.
• Despite a revenue increase of 16.5% year-over-year, Appian reported a loss of ($0.14) EPS, slightly missing the consensus estimate.

Appian Corporation (NASDAQ:APPN - Get Free Report) saw unusually large options trading on Monday. Stock investors acquired 30,082 put options on the stock. Thisisanincreaseof1,317% compared to the average volume of 2,123 put options.

Insiders Place Their Bets

In other Appian news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $31.83, for a total value of $9,549,000.00. Following the transaction, the insider directly owned 8,430,391 shares of the company's stock, valued at $268,339,345.53. This represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,031,337 shares of company stock valued at $32,963,143. Corporate insiders own 43.00% of the company's stock.

Hedge Funds Weigh In On Appian

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd acquired a new position in shares of Appian in the 4th quarter valued at approximately $35,000. PNC Financial Services Group Inc. raised its holdings in Appian by 89.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company's stock worth $36,000 after acquiring an additional 564 shares in the last quarter. Canada Pension Plan Investment Board raised 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 worth $76,000 after acquiring an additional 500 shares in the last quarter. Concord Wealth Partners increased its position in Appian by 21.7% during the first quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock worth $74,000 after buying an additional 461 shares during the last quarter. Finally, Globeflex Capital L P acquired a new position in Appian during the second quarter worth approximately $90,000. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Stock Up 0.2%

Shares of Appian stock traded up $0.07 during trading on Friday, reaching $30.78. 639,986 shares of the company were exchanged, compared to its average volume of 1,225,831. Appian has a twelve month low of $24.00 and a twelve month high of $43.33. The business has a 50-day moving average price of $29.28 and a 200-day moving average price of $30.13. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -133.82 and a beta of 1.75.

Appian (NASDAQ:APPN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The company had revenue of $170.64 million during the quarter, compared to analyst estimates of $160.01 million. During the same period in the previous year, the business posted ($0.26) earnings per share. The firm's revenue for the quarter was up 16.5% compared to the same quarter last year. 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 research analysts forecast that Appian will post -0.28 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.