Sachin Gupta Sells 80,000 Shares of Apptio Inc. (APTI) Stock
Apptio Inc. (NASDAQ:APTI) insider Sachin Gupta sold 80,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $21.59, for a total value of $1,727,200.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Apptio Inc. (APTI) opened at $21.83 on Wednesday. Apptio Inc. has a 52-week low of $10.77 and a 52-week high of $24.50.
Apptio (NASDAQ:APTI) last released its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.08. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The company had revenue of $47.00 million during the quarter, compared to analysts’ expectations of $44.86 million. During the same period last year, the firm posted ($0.45) earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. equities analysts expect that Apptio Inc. will post -0.69 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Apptio by 73.4% in the second quarter. Bank of New York Mellon Corp now owns 47,342 shares of the technology company’s stock valued at $821,000 after buying an additional 20,040 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Apptio by 584.3% in the first quarter. JPMorgan Chase & Co. now owns 59,661 shares of the technology company’s stock valued at $700,000 after buying an additional 50,943 shares during the last quarter. SQN Investors LP acquired a new stake in shares of Apptio in the second quarter valued at approximately $23,378,000. Pier 88 Investment Partners LLC lifted its position in shares of Apptio by 115.4% in the second quarter. Pier 88 Investment Partners LLC now owns 31,240 shares of the technology company’s stock valued at $542,000 after buying an additional 16,740 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Apptio in the first quarter valued at approximately $1,191,000. 44.98% of the stock is owned by institutional investors.
APTI has been the subject of several recent research reports. KeyCorp reissued a “buy” rating and set a $22.00 price target on shares of Apptio in a research report on Friday, October 6th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $27.00 price target (up from $25.00) on shares of Apptio in a research report on Tuesday, October 31st. Royal Bank Of Canada reissued a “buy” rating and set a $21.00 price target on shares of Apptio in a research report on Tuesday, October 10th. Zacks Investment Research cut Apptio from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Bank of America Corporation increased their price target on Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Apptio currently has a consensus rating of “Buy” and a consensus target price of $24.38.
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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