Insider Selling: Apptio Inc (APTI) Insider Sells 7,594 Shares of Stock

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Apptio Inc (NASDAQ:APTI) insider John C. Morrow sold 7,594 shares of Apptio stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $38.42, for a total transaction of $291,761.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

John C. Morrow also recently made the following trade(s):

  • On Thursday, August 30th, John C. Morrow sold 1,201 shares of Apptio stock. The shares were sold at an average price of $38.20, for a total transaction of $45,878.20.
  • On Wednesday, August 8th, John C. Morrow sold 8,750 shares of Apptio stock. The shares were sold at an average price of $36.84, for a total transaction of $322,350.00.

Shares of NASDAQ:APTI opened at $37.93 on Thursday. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.72. Apptio Inc has a one year low of $16.56 and a one year high of $39.58.

Apptio (NASDAQ:APTI) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.14. Apptio had a negative net margin of 11.98% and a negative return on equity of 19.28%. The firm had revenue of $59.05 million during the quarter, compared to the consensus estimate of $55.60 million. During the same period last year, the firm earned ($0.08) EPS. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. equities research analysts predict that Apptio Inc will post -0.4 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. First Mercantile Trust Co. boosted its holdings in Apptio by 134.6% in the 2nd quarter. First Mercantile Trust Co. now owns 2,940 shares of the technology company’s stock valued at $106,000 after purchasing an additional 1,687 shares during the period. Point72 Asset Management L.P. bought a new position in Apptio in the 1st quarter valued at $170,000. Cubist Systematic Strategies LLC bought a new position in Apptio in the 1st quarter valued at $178,000. Tocqueville Asset Management L.P. bought a new position in Apptio in the 2nd quarter valued at $253,000. Finally, Allen Operations LLC bought a new position in Apptio in the 1st quarter valued at $214,000. 72.49% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on APTI shares. Royal Bank of Canada reiterated a “buy” rating and issued a $41.00 price objective on shares of Apptio in a research note on Tuesday, July 31st. BidaskClub upgraded shares of Apptio from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. Barclays lifted their price objective on shares of Apptio from $32.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 2nd. Bank of America lifted their price objective on shares of Apptio from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Apptio from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, August 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $35.30.

Apptio Company Profile

Apptio, Inc provides cloud-based technology business management (TBM) solutions to enterprises. Its cloud-based platform and SaaS applications enable IT leaders to analyze, optimize, and plan technology investments, as well as to benchmark financial and operational performance against peers. The company's TBM solutions consist of adaptive data management, which aggregates, cleanses, and correlates large amounts of customer data from various sources; and standard IT operating model and taxonomy that offers a standard model for how IT costs are captured, categorized, and allocated to IT and business services.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

Insider Buying and Selling by Quarter for Apptio (NASDAQ:APTI)

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