Appian Co. (NASDAQ:APPN) Sees Significant Increase in Short Interest

Appian Co. (NASDAQ:APPN) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 2,350,000 shares, a growth of 40.7% from the February 28th total of 1,670,000 shares. Currently, 6.1% of the shares of the company are short sold. Based on an average daily trading volume, of 502,400 shares, the short-interest ratio is presently 4.7 days.

Appian Price Performance

APPN stock opened at $28.81 on Tuesday. The company’s 50-day moving average is $32.49 and its 200-day moving average is $34.21. The stock has a market capitalization of $2.13 billion, a PE ratio of -22.87 and a beta of 1.65. Appian has a 1 year low of $26.28 and a 1 year high of $43.33.

Appian (NASDAQ:APPN) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Appian had a negative return on equity of 532.05% and a negative net margin of 14.95%. The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $164.31 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts anticipate that Appian will post -0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on APPN shares. KeyCorp reissued a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Scotiabank initiated coverage on shares of Appian in a research note on Monday, January 6th. They set a “sector perform” rating and a $37.00 target price on the stock. Finally, Barclays lifted their price target on shares of Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.80.

Insider Buying and Selling at Appian

In other Appian news, Director Albert G.W. Biddle III sold 990 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $33.21, for a total value of $32,877.90. Following the transaction, the director now directly owns 29,348 shares in the company, valued at $974,647.08. The trade was a 3.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 44.00% of the company’s stock.

Institutional Investors Weigh In On Appian

A number of hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Appian by 9.5% in the fourth 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 purchasing an additional 7,594 shares in the last quarter. Voloridge Investment Management LLC boosted its stake in shares of Appian by 222.6% in the 4th quarter. Voloridge Investment Management LLC now owns 182,965 shares of the company’s stock valued at $6,034,000 after purchasing an additional 126,256 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Appian by 60.5% in the fourth quarter. Squarepoint Ops LLC now owns 25,546 shares of the company’s stock worth $843,000 after buying an additional 9,630 shares during the period. Twinbeech Capital LP bought a new position in shares of Appian in the fourth quarter worth approximately $2,403,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Appian during the fourth quarter worth about $320,000. 52.70% of the stock is currently owned by institutional investors.

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.