Apigee Corp. (APIC) Director Sells $5,212,848.60 in Stock
Apigee Corp. (NASDAQ:APIC) Director Promod Haque sold 299,589 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $17.40, for a total value of $5,212,848.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Apigee Corp. (NASDAQ:APIC) opened at 17.375 on Tuesday. The firm’s market cap is $535.06 million. The company’s 50 day moving average price is $17.39 and its 200-day moving average price is $13.97. Apigee Corp. has a 12-month low of $5.35 and a 12-month high of $17.84.
Apigee Corp. (NASDAQ:APIC) last posted its earnings results on Wednesday, September 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. Apigee Corp. had a negative return on equity of 68.81% and a negative net margin of 45.11%. The firm had revenue of $25.10 million for the quarter. During the same period in the previous year, the company posted ($0.38) EPS. Apigee Corp.’s revenue was up 34.2% on a year-over-year basis. On average, equities research analysts anticipate that Apigee Corp. will post ($0.77) EPS for the current year.
APIC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Apigee Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Roth Capital lowered Apigee Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, September 15th. JPMorgan Chase & Co. reaffirmed a “market perform” rating on shares of Apigee Corp. in a report on Tuesday, October 11th. JMP Securities downgraded Apigee Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, October 10th. Finally, Credit Suisse Group AG downgraded Apigee Corp. from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $17.40 in a report on Thursday, September 15th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $17.47.
Institutional investors have recently bought and sold shares of the company. American International Group Inc. raised its stake in Apigee Corp. by 196.1% in the second quarter. American International Group Inc. now owns 8,865 shares of the company’s stock worth $108,000 after buying an additional 5,871 shares in the last quarter. Nationwide Fund Advisors raised its stake in Apigee Corp. by 219.6% in the second quarter. Nationwide Fund Advisors now owns 9,861 shares of the company’s stock worth $121,000 after buying an additional 6,776 shares in the last quarter. Citadel Advisors LLC bought a new stake in Apigee Corp. during the second quarter worth about $126,000. Barclays PLC bought a new stake in Apigee Corp. during the second quarter worth about $130,000. Finally, Rhumbline Advisers bought a new stake in Apigee Corp. during the second quarter worth about $131,000. 42.52% of the stock is currently owned by hedge funds and other institutional investors.
Apigee Corp. Company Profile
Apigee Corporation (Apigee) is engaged in providing a software platform that allows businesses to design, deploy, and scale application program interfaces (APIs), as a connection layer between their core information technology (IT) systems and data and the applications, with which their customers, partners, employees and other users engage with the business.
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