Stock Traders Purchase High Volume of Put Options on Appian (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) was the target of some unusual options trading on Monday. Investors bought 30,082 put options on the stock. Thisisanincreaseofapproximately1,317% compared to the average volume of 2,123 put options.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on APPN shares. Zacks Research raised Appian to a "strong-buy" rating in a research note on Monday, August 11th. Barclays boosted their price objective on Appian from $28.00 to $33.00 and gave the company an "underweight" rating in a report on Friday, May 9th. DA Davidson assumed coverage on Appian in a report on Friday, August 8th. They issued a "neutral" rating and a $30.00 price objective on the stock. Morgan Stanley boosted 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. Finally, Citigroup boosted their price objective on Appian from $40.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $33.40.

Insider Activity at Appian

In other news, major shareholder Abdiel Capital Advisors, Lp sold 300,000 shares of the company's stock in a transaction on 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 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 1,462,510 shares of company stock valued at $46,548,837. Corporate insiders own 43.00% of the company's stock.

Institutional Investors Weigh In On Appian

Several large investors have recently bought and sold shares of APPN. Point72 Hong Kong Ltd purchased a new position in shares of Appian in the 4th quarter valued at about $35,000. PNC Financial Services Group Inc. increased its holdings in shares of Appian by 89.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company's stock valued at $36,000 after acquiring an additional 564 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Appian by 27.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the company's stock valued at $76,000 after acquiring an additional 500 shares during the last quarter. Concord Wealth Partners increased its holdings in shares of Appian by 21.7% in the 1st quarter. Concord Wealth Partners now owns 2,581 shares of the company's stock valued at $74,000 after acquiring an additional 461 shares during the last quarter. Finally, Globeflex Capital L P purchased a new position in shares of Appian in the 2nd quarter valued at about $90,000. Hedge funds and other institutional investors own 52.70% of the company's stock.

Appian Stock Down 1.2%

NASDAQ APPN traded down $0.3550 during trading hours on Monday, hitting $29.4550. 72,718 shares of the company were exchanged, compared to its average volume of 667,047. The company has a 50 day moving average of $29.28 and a two-hundred day moving average of $30.22. Appian has a 52-week low of $24.00 and a 52-week high of $43.33. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -127.90 and a beta of 1.75.

Appian (NASDAQ:APPN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The business had revenue of $170.64 million during the quarter, compared to the consensus estimate of $160.01 million. During the same quarter last year, the business posted ($0.26) EPS. Appian'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 predict that Appian will post -0.28 EPS for the current year.

Appian Company Profile

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.

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