Appian Co. (NASDAQ:APPN) Short Interest Down 7.3% in November

Appian Co. (NASDAQ:APPN) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 2,290,000 shares, a decrease of 7.3% from the October 31st total of 2,470,000 shares. Based on an average trading volume of 479,700 shares, the days-to-cover ratio is presently 4.8 days. Currently, 6.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

APPN has been the subject of a number of research reports. DA Davidson restated a “neutral” rating and set a $33.00 target price on shares of Appian in a research report on Monday, October 14th. Barclays lifted their price objective on Appian from $29.00 to $34.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Appian presently has a consensus rating of “Hold” and an average price target of $40.20.

Appian Stock Performance

NASDAQ APPN traded up $0.99 during mid-day trading on Monday, reaching $38.84. 118,488 shares of the stock were exchanged, compared to its average volume of 546,451. The stock has a market capitalization of $3.32 billion, a PE ratio of -31.02 and a beta of 1.57. Appian has a 1-year low of $26.28 and a 1-year high of $43.33. The business’s fifty day simple moving average is $35.11 and its 200 day simple moving average is $32.59.

Insiders Place Their Bets

In other news, major shareholder Abdiel Capital Advisors, Lp acquired 23,053 shares of Appian stock in a transaction that occurred on Monday, September 9th. The stock was purchased at an average cost of $30.22 per share, with a total value of $696,661.66. Following the completion of the acquisition, the insider now owns 10,036,046 shares in the company, valued at $303,289,310.12. This trade represents a 0.23 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders acquired 121,107 shares of company stock worth $3,871,494. 44.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Appian

Several hedge funds have recently made changes to their positions in APPN. Price T Rowe Associates Inc. MD increased its position in Appian by 5.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,097 shares of the company’s stock worth $1,203,000 after purchasing an additional 1,494 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Appian in the 2nd quarter valued at about $65,000. Bank of New York Mellon Corp grew its holdings in shares of Appian by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 143,983 shares of the company’s stock worth $4,443,000 after purchasing an additional 13,046 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Appian by 36.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,280 shares of the company’s stock worth $348,000 after buying an additional 2,993 shares during the period. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Appian by 3.0% in the second quarter. Crossmark Global Holdings Inc. now owns 9,693 shares of the company’s stock valued at $299,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

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.