Appian Sees Unusually Large Options Volume (NASDAQ:APPN)

Appian Co. (NASDAQ:APPN) was the target of unusually large options trading activity on Tuesday. Investors bought 8,227 put options on the stock. This represents an increase of approximately 1,639% compared to the average daily volume of 473 put options.

Wall Street Analyst Weigh In

APPN has been the topic of a number of research analyst reports. Barclays boosted their price target on Appian from $34.00 to $37.00 and gave the stock an “underweight” rating in a report on Friday, December 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Appian in a report on Tuesday, January 14th. Finally, Scotiabank initiated coverage on Appian in a research report on Monday, January 6th. They set a “sector perform” rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.17.

Insider Buying and Selling

In other news, Director William D. Mccarthy sold 700 shares of Appian stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.78, for a total value of $27,146.00. Following the completion of the sale, the director now owns 7,966 shares in the company, valued at $308,921.48. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 44.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Appian

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bryce Point Capital LLC bought a new position in shares of Appian during the 4th quarter valued at about $451,000. Trexquant Investment LP lifted its position in shares of Appian by 10.8% in the fourth quarter. Trexquant Investment LP now owns 166,303 shares of the company’s stock worth $5,485,000 after purchasing an additional 16,164 shares in the last quarter. Geode Capital Management LLC raised its position in Appian by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 972,203 shares of the company’s stock valued at $32,071,000 after acquiring an additional 14,710 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Appian during the fourth quarter valued at approximately $4,918,000. Finally, Norges Bank bought a new position in shares of Appian in the fourth quarter valued at approximately $4,046,000. 52.70% of the stock is owned by institutional investors and hedge funds.

Appian Price Performance

NASDAQ APPN opened at $34.10 on Thursday. Appian has a 12 month low of $26.28 and a 12 month high of $43.33. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -27.95 and a beta of 1.64. The company’s fifty day moving average price is $35.02 and its two-hundred day moving average price is $34.09.

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.