Apptio Inc’s Lock-Up Period To Expire Tomorrow (NASDAQ:APTI)
Apptio’s (NASDAQ:APTI) lock-up period will end on Wednesday, March 22nd. Apptio had issued 6,000,000 shares in its IPO on September 23rd. The total size of the offering was $96,000,000 based on an initial share price of $16.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
Several equities research analysts have commented on the stock. Barclays PLC reiterated an “equal weight” rating and issued a $22.00 price objective (down previously from $24.00) on shares of Apptio in a research note on Thursday, February 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $29.00 price objective on shares of Apptio in a research note on Wednesday, January 18th. Finally, Royal Bank of Canada upgraded shares of Apptio from a “sector perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research note on Thursday, February 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Apptio has a consensus rating of “Buy” and an average price target of $23.71.
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Apptio (NASDAQ:APTI) opened at 12.49 on Tuesday. The company’s market capitalization is $479.42 million. Apptio has a 52-week low of $12.27 and a 52-week high of $24.60. The stock’s 50 day moving average is $13.99 and its 200-day moving average is $17.47.
Apptio (NASDAQ:APTI) last announced its earnings results on Thursday, February 9th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.11. The company had revenue of $44.30 million for the quarter, compared to the consensus estimate of $42.10 million. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.84) EPS. Analysts predict that Apptio will post ($0.43) EPS for the current fiscal year.
Several large investors have recently made changes to their positions in APTI. Greylock Xii GP LLC acquired a new stake in Apptio during the third quarter valued at approximately $106,285,000. FMR LLC raised its stake in Apptio by 9.8% in the fourth quarter. FMR LLC now owns 986,500 shares of the company’s stock valued at $18,280,000 after buying an additional 88,000 shares during the last quarter. Janus Capital Management LLC raised its stake in Apptio by 23.6% in the fourth quarter. Janus Capital Management LLC now owns 740,522 shares of the company’s stock valued at $13,722,000 after buying an additional 141,373 shares during the last quarter. Columbia Wanger Asset Management LLC raised its stake in Apptio by 10.0% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 394,916 shares of the company’s stock valued at $7,318,000 after buying an additional 35,954 shares during the last quarter. Finally, Hillman Co. acquired a new stake in Apptio during the third quarter valued at approximately $3,723,000.
Apptio, Inc is a provider of technology business management (TBM) solutions. The Company’s cloud-based platform and software as a service (SaaS) applications enable information technology (IT) leaders to analyze, optimize and plan technology investments, and benchmark the financial and operational performance against peers.
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