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

by · The Markets Daily

Appian Corporation (NASDAQ:APPN – Get Free Report) was the recipient of unusually large options trading activity on Monday. Stock traders acquired 13,441 put options on the company. This represents an increase of 486% compared to the typical daily volume of 2,294 put options.

Institutional Investors Weigh In On Appian

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Appian by 282.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 811 shares of the company’s stock worth $25,000 after acquiring an additional 599 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Appian by 693.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the company’s stock worth $30,000 after purchasing an additional 846 shares in the last quarter. Allworth Financial LP boosted its position in Appian by 175.2% during the third quarter. Allworth Financial LP now owns 1,131 shares of the company’s stock worth $35,000 after purchasing an additional 720 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in 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 during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in Appian by 115.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,653 shares of the company’s stock valued at $51,000 after acquiring an additional 886 shares during the last quarter. Institutional investors and hedge funds own 52.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APPN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Appian in a research note on Monday, December 8th. DA Davidson assumed coverage on Appian in a report on Friday, November 7th. They issued a “hold” rating and a $38.00 price objective on the stock. Cowen reaffirmed a “hold” rating on shares of Appian in a report on Thursday, November 6th. Morgan Stanley boosted their price objective on shares of Appian from $29.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded shares of Appian from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.00.

View Our Latest Stock Analysis on APPN

Appian Trading Down 2.8%

Shares of APPN traded down $1.07 during mid-day trading on Monday, hitting $36.77. 106,159 shares of the company’s stock were exchanged, compared to its average volume of 719,566. The business’s 50 day moving average is $35.87 and its two-hundred day moving average is $32.16. Appian has a fifty-two week low of $24.00 and a fifty-two week high of $46.06. The firm has a market capitalization of $2.71 billion, a P/E ratio of -367.91 and a beta of 0.84.

Appian (NASDAQ:APPN – Get Free Report) last released its quarterly 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 company had revenue of $187.00 million for the quarter, compared to analysts’ expectations of $174.11 million. During the same quarter last year, the company earned $0.15 EPS. Appian’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, equities research analysts forecast that Appian will post -0.28 earnings per share for the current year.

About Appian

(Get Free Report)

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.

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