Goldman Sachs Group Inc. Purchases New Stake in Apptio Inc. (NASDAQ:APTI)
Goldman Sachs Group Inc. purchased a new stake in Apptio Inc. (NASDAQ:APTI) during the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 101,539 shares of the technology company’s stock, valued at approximately $1,191,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of APTI. 1st Global Advisors Inc. purchased a new position in Apptio during the first quarter valued at about $127,000. Wells Fargo & Company MN boosted its position in shares of Apptio by 322.6% in the first quarter. Wells Fargo & Company MN now owns 11,004 shares of the technology company’s stock worth $129,000 after buying an additional 8,400 shares during the period. Allen Holding Inc. NY bought a new position in shares of Apptio during the first quarter worth about $148,000. Pier 88 Investment Partners LLC bought a new position in shares of Apptio during the first quarter worth about $170,000. Finally, HighTower Advisors LLC boosted its position in shares of Apptio by 1.7% in the first quarter. HighTower Advisors LLC now owns 15,252 shares of the technology company’s stock worth $179,000 after buying an additional 252 shares during the period. 25.09% of the stock is owned by hedge funds and other institutional investors.
Shares of Apptio Inc. (APTI) traded down 1.64% on Thursday, reaching $16.75. 34,472 shares of the company’s stock were exchanged. The company’s market capitalization is $669.25 million. The stock’s 50-day moving average price is $17.28 and its 200-day moving average price is $14.83. Apptio Inc. has a 1-year low of $10.77 and a 1-year high of $24.60.
Apptio (NASDAQ:APTI) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. Apptio had a negative net margin of 17.36% and a negative return on equity of 41.76%. The company had revenue of $45.23 million for the quarter, compared to the consensus estimate of $43.72 million. Apptio’s revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts anticipate that Apptio Inc. will post ($0.37) EPS for the current fiscal year.
APTI has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Apptio from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. J P Morgan Chase & Co raised shares of Apptio from a “neutral” rating to an “overweight” rating and increased their target price for the company from $16.00 to $18.00 in a report on Wednesday, April 26th. Oppenheimer Holdings, Inc. initiated coverage on shares of Apptio in a report on Thursday, July 27th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $21.00 target price (up from $19.00) on shares of Apptio in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $23.00.
In other Apptio news, insider Christopher Pick sold 170,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $16.05, for a total transaction of $2,728,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 43.20% of the stock is currently owned by insiders.
Apptio Company Profile
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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