Stock Traders Purchase High Volume of Appian Put Options (NASDAQ:APPN)

Appian Corporation (NASDAQ:APPN) was the target of unusually large options trading on Tuesday. Investors bought 12,125 put options on the stock. This is an increase of 953% compared to the typical daily volume of 1,151 put options.

Wall Street Analyst Weigh In

APPN has been the topic of a number of recent analyst reports. DA Davidson assumed coverage on Appian in a research note on Friday, November 7th. They issued a “hold” rating and a $38.00 price objective on the stock. Cowen reiterated a “hold” rating on shares of Appian in a research report on Thursday, November 6th. Barclays decreased their price objective on shares of Appian from $37.00 to $34.00 and set an “underweight” rating on the stock in a report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Appian in a research report on Monday, December 29th. Finally, Morgan Stanley raised shares of Appian from an “equal weight” rating to an “overweight” rating and set a $45.00 price target for the company in a report on Monday. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.40.

Appian Stock Down 3.6%

Shares of Appian stock traded down $1.18 during trading on Tuesday, reaching $31.87. 369,296 shares of the company were exchanged, compared to its average volume of 767,052. The business has a 50-day moving average price of $38.37 and a 200-day moving average price of $32.92. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -318.27 and a beta of 0.82. Appian has a twelve month low of $24.00 and a twelve month high of $46.06.

Appian (NASDAQ:APPN) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.27. The company had revenue of $187.00 million during the quarter, compared to the consensus estimate of $174.11 million. During the same period last year, the company earned $0.15 earnings per share. The business’s revenue was up 21.4% compared to the same quarter last year. On average, equities research analysts forecast that Appian will post -0.28 EPS for the current fiscal year.

Institutional Trading of Appian

A number of institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Appian by 81.2% in the fourth quarter. SG Americas Securities LLC now owns 73,261 shares of the company’s stock valued at $2,595,000 after purchasing an additional 32,825 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Appian by 19.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,945 shares of the company’s stock valued at $630,000 after acquiring an additional 3,127 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Appian in the fourth quarter valued at about $1,584,000. Tudor Investment Corp ET AL raised its holdings in Appian by 203.9% during the third quarter. Tudor Investment Corp ET AL now owns 369,871 shares of the company’s stock worth $11,307,000 after acquiring an additional 248,169 shares in the last quarter. Finally, Allworth Financial LP raised its holdings 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 acquiring an additional 720 shares in the last quarter. 52.70% of the stock is currently owned by institutional investors.

About Appian

Appian Corporation is a global technology company specializing in low-code automation platforms designed to streamline business processes. Founded in 1999 by Matt Calkins, the company provides an integrated suite of tools that enables organizations to build enterprise applications and workflows rapidly with minimal hand coding. The platform combines process management, robotic process automation (RPA), artificial intelligence (AI) capabilities and data integration into a single environment, allowing businesses to accelerate digital transformation initiatives.

The core offering, the Appian Low-Code Platform, empowers users—ranging from professional developers to business analysts—to visually model, design and deploy applications that can automate complex operations, orchestrate tasks across systems, and deliver real-time analytics.