Abdiel Capital Buys $2 Million More of APPN

The most significant insider buy on today's list comes via a Form 4 filing by Abdiel Capital LP. 

The investment firm revealed a purchase of roughly $2 million in Appian Corporation $APPN.

Director John Bilbrey bought $376,161 worth in Olaplex Holdings $OLPX.

Here’s The Hot Corner, with data from August 21, 2024:

In another Form 4, the president and CEO of Kratos Defense & Security Solutions Inc $KTOS reported an acquisition of 11,980 KTOS shares.

Over in Washington, Rep. Scott Franklin of Florida filed a Periodic Transaction Report declaring purchases in the following stocks:

• Accenture plc $ACN;
• Air Products and Chemicals Inc $APD;
• Amgen Inc $AMGN;
• General Dynamics Corporation $GD;
• Johnson & Johnson $JNJ; and
• Starbucks Corporation $SBUX.

Earlier this year, GD broke out a multi-year base and ripped higher with authority.

Fast-forward to today, and price is digesting the recent gains within a tight range just below the 161.8% extension level:

Our bet is that GD will resolve this continuation pattern in the direction of the underlying trend sooner rather than later.

If and when it does, we expect a fresh leg higher for the foreseeable future.

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

And please reach out with any questions. We love hearing from you!