Appian Corp (NASDAQ:APPN) Short Interest Up 33.6% in June

Appian Corp (NASDAQ:APPN) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 4,364,700 shares, an increase of 33.6% from the May 30th total of 3,267,500 shares. Approximately 14.9% of the shares of the company are sold short. Based on an average trading volume of 558,900 shares, the days-to-cover ratio is currently 7.8 days.

APPN stock opened at $38.47 on Friday. The firm has a market capitalization of $2.49 billion, a P/E ratio of -48.09 and a beta of 1.40. The company has a 50-day moving average of $35.39. Appian has a 52 week low of $22.61 and a 52 week high of $39.92.

Appian (NASDAQ:APPN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.16) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.16). The business had revenue of $59.58 million during the quarter, compared to the consensus estimate of $59.71 million. Appian had a negative return on equity of 91.41% and a negative net margin of 24.48%. Appian’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. As a group, analysts predict that Appian will post -0.83 EPS for the current fiscal year.

In other news, Director Michael G. Devine sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $36.03, for a total value of $180,150.00. Following the completion of the sale, the director now owns 11,960 shares of the company’s stock, valued at $430,918.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel sold 34,182 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $36.62, for a total transaction of $1,251,744.84. The disclosure for this sale can be found here. In the last three months, insiders sold 133,964 shares of company stock valued at $4,823,799. 50.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of APPN. Roundview Capital LLC raised its stake in Appian by 1.0% during the first quarter. Roundview Capital LLC now owns 81,462 shares of the company’s stock worth $2,805,000 after acquiring an additional 820 shares in the last quarter. Lindbrook Capital LLC raised its stake in Appian by 50.0% during the first quarter. Lindbrook Capital LLC now owns 900 shares of the company’s stock worth $30,000 after acquiring an additional 300 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Appian by 23.9% during the fourth quarter. Bank of New York Mellon Corp now owns 23,285 shares of the company’s stock worth $622,000 after acquiring an additional 4,487 shares in the last quarter. Tibra Equities Europe Ltd acquired a new position in Appian during the first quarter worth about $1,699,000. Finally, PNC Financial Services Group Inc. raised its stake in Appian by 295.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,660 shares of the company’s stock worth $97,000 after acquiring an additional 2,735 shares in the last quarter. 28.68% of the stock is owned by institutional investors and hedge funds.

APPN has been the subject of a number of recent research reports. BidaskClub cut shares of Amyris from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. Morgan Stanley set a $123.00 price target on Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, May 23rd. William Blair reaffirmed an “outperform” rating on shares of NuCana in a research note on Thursday, May 16th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Barclays reaffirmed a “buy” rating on shares of NXP Semiconductors in a research note on Sunday, May 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.59.

Appian Company Profile

Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.

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