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Steve Strazza

Abdiel Capital Reports a $4 Million APPN Purchase

August 27, 2024

The most significant insider purchase on today's list comes via a Form 4 filing by Abdiel Capital LP, which revealed a purchase of roughly $4 million in Appian Corporation $APPN.

CFO John R. Rettig bought 21,124 shares of Bill.com Holdings Inc $BILL, equivalent to roughly $3 million.

Here’s The Hot Corner, with data from August 26, 2024:

240827_hot_corner_table

Elliott Investment Management filed a 13D for Southwest Airlines Co $LUV revealing an increase in ownership from 8.18% to 11.00%.

In another Form 4, the chief product officer of Peloton Interactive $PTON reported a purchase of his company’s shares with a total value of $133,182.

We mentioned PTON in our latest Freshly Squeezed report, as the stock has a 22% short interest and a 6x days-to-cover ratio.

Not only is price breaking out above a downward trendline. It’s also reclaiming a critical level at a shelf of former lows:

240827_hot_corner_pton

If we're above 4.50, we think the squeeze is on.

Stay tuned. We'll be back on Wednesday with more insider activity.

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