Appian Co. (NASDAQ:APPN) Short Interest Update

Appian Co. (NASDAQ:APPN) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totalling 1,720,000 shares, a decrease of 12.7% from the December 15th total of 1,970,000 shares. Currently, 4.5% of the shares of the company are short sold. Based on an average daily volume of 486,900 shares, the short-interest ratio is presently 3.5 days.

Appian Trading Down 2.9 %

Shares of Appian stock traded down $0.99 during trading hours on Friday, hitting $32.80. 290,975 shares of the company’s stock traded hands, compared to its average volume of 315,719. Appian has a 12-month low of $26.28 and a 12-month high of $43.33. The company has a fifty day simple moving average of $36.30 and a 200-day simple moving average of $34.07.

Insiders Place Their Bets

In other Appian news, Director William D. Mccarthy sold 700 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $38.78, for a total transaction of $27,146.00. Following the completion of the sale, the director now directly owns 7,966 shares in the company, valued at $308,921.48. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 44.00% of the company’s stock.

Institutional Investors Weigh In On Appian

Hedge funds have recently modified their holdings of the stock. Arete Wealth Advisors LLC purchased a new position in Appian in the 3rd quarter worth $291,000. Geode Capital Management LLC grew its holdings in shares of Appian by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 957,493 shares of the company’s stock worth $32,695,000 after acquiring an additional 5,772 shares during the period. Barclays PLC raised its position in shares of Appian by 285.9% in the 3rd quarter. Barclays PLC now owns 71,771 shares of the company’s stock worth $2,451,000 after acquiring an additional 53,172 shares in the last quarter. Holocene Advisors LP lifted its position in Appian by 33.2% during the third quarter. Holocene Advisors LP now owns 75,097 shares of the company’s stock valued at $2,564,000 after buying an additional 18,729 shares during the period. Finally, Benjamin Edwards Inc. purchased a new stake in shares of Appian in the 3rd quarter worth about $427,000. Institutional investors own 52.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on APPN shares. Barclays increased their target price on Appian from $34.00 to $37.00 and gave the company an “underweight” rating in a research report on Friday, December 6th. Scotiabank assumed coverage on shares of Appian in a report on Monday, January 6th. They issued a “sector perform” rating and a $37.00 price target for the company. KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a research report on Tuesday, January 14th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $33.00 price target on shares of Appian in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.17.

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.