Appian Target of Unusually Large Options Trading (NASDAQ:APPN)

Appian Corporation (NASDAQ:APPN) saw unusually large options trading on Monday. Traders purchased 13,441 put options on the stock. This represents an increase of 486% compared to the typical daily volume of 2,294 put options.

Institutional Investors Weigh In On Appian

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in shares of Appian by 282.5% in the third quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock valued at $25,000 after acquiring an additional 599 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Appian by 693.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock worth $30,000 after buying an additional 846 shares in the last quarter. Allworth Financial LP grew its stake in shares of Appian by 175.2% during the third quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock valued at $35,000 after purchasing an additional 720 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Appian by 89.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,198 shares of the company’s stock valued at $36,000 after purchasing an additional 564 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Appian by 115.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,653 shares of the company’s stock worth $51,000 after buying an additional 886 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors and hedge funds.

Appian Stock Down 2.5%

APPN opened at $36.90 on Tuesday. The company’s 50-day moving average price is $36.00 and its 200 day moving average price is $32.20. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -368.96 and a beta of 0.84. Appian has a fifty-two week low of $24.00 and a fifty-two week high of $46.06.

Appian (NASDAQ:APPN) last posted its earnings results on Thursday, November 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.05 by $0.27. The firm had revenue of $187.00 million during the quarter, compared to the consensus estimate of $174.11 million. During the same quarter last year, the company posted $0.15 EPS. Appian’s revenue for the quarter was up 21.4% on a year-over-year basis. Research analysts anticipate that Appian will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on APPN shares. Barclays boosted their price objective on Appian from $33.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Appian in a report on Monday, December 8th. Morgan Stanley lifted their target price on shares of Appian from $29.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Wall Street Zen raised shares of Appian from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 6th. Finally, Cowen restated a “hold” rating on shares of Appian in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.00.

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.