Appian Corp (NASDAQ:APPN) is Attracting Smart Money

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Appian Corp (NASDAQ:APPN) reported that Abdiel Qualified Master Fund Lp has picked up 2,920,688 of common stock as of 2017-06-29.

The acquisition brings the aggregate amount owned by Abdiel Qualified Master Fund Lp to a total of 2,920,688 representing a 40.6% stake in the company.

For those not familiar with the company, Appian Corporation provides a low-code software development platform as a service that enables organizations to develop applications. Through Company’s platform, organizations can design, build and implement, enterprise-grade custom applications. Decision makers can reimagine their products, services, processes and customer interactions. The Company’s platform automates the creation of forms, data flows, records, reports and other software elements. The Company’s SAIL technology allows developers to create an application once and deploy it everywhere. The Company’s products include business process management (BPM) software, case management, mobile application development and platform as a service. The Company provides its services to a range of industries including energy, insurance, health payers and providers, manufacturing, public sector, retail and transportation.

A glance at Appian Corp (NASDAQ:APPN) key stats reveals a current market capitalization of $1.08 Billion based on $6.25 Million shares outstanding and a price at last close of $18.35 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-06-27, Abdiel picked up 8,121 at a purchase price of $18.02. This brings their total holding to 2,829,237 as of the date of the filing.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Appian Corp (NASDAQ:APPN) as things move forward to see if its progress aligns with these transactions.

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