Apptio Inc. (APTI) CFO Kurt Shintaffer Sells 40,000 Shares of Stock
Apptio Inc. (NASDAQ:APTI) CFO Kurt Shintaffer sold 40,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $22.05, for a total value of $882,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Apptio Inc. (NASDAQ APTI) traded down $0.03 during mid-day trading on Friday, reaching $22.48. The company had a trading volume of 267,562 shares, compared to its average volume of 332,119. Apptio Inc. has a 1 year low of $10.77 and a 1 year high of $24.50.
Apptio (NASDAQ:APTI) last announced its quarterly earnings data on Monday, October 30th. The technology company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.08. The firm had revenue of $47.00 million during the quarter, compared to analyst estimates of $44.86 million. Apptio had a negative return on equity of 36.83% and a negative net margin of 14.77%. The company’s revenue was up 15.8% on a year-over-year basis. During the same period last year, the company earned ($0.45) earnings per share. analysts anticipate that Apptio Inc. will post -0.69 EPS for the current year.
A number of analysts have recently weighed in on APTI shares. Zacks Investment Research upgraded Apptio from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, August 8th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $25.00 target price on shares of Apptio in a research note on Tuesday, October 24th. Royal Bank Of Canada restated a “buy” rating and issued a $21.00 target price on shares of Apptio in a research note on Tuesday, October 10th. KeyCorp restated a “buy” rating and issued a $22.00 target price on shares of Apptio in a research note on Friday, October 6th. Finally, Bank of America Corporation raised their target price on Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $24.38.
A number of hedge funds have recently made changes to their positions in the stock. Granahan Investment Management Inc. MA increased its position in Apptio by 21.4% in the third quarter. Granahan Investment Management Inc. MA now owns 177,300 shares of the technology company’s stock worth $3,275,000 after purchasing an additional 31,216 shares during the period. Highbridge Capital Management LLC acquired a new stake in Apptio in the third quarter worth about $353,000. Engineers Gate Manager LP acquired a new stake in Apptio in the third quarter worth about $549,000. California State Teachers Retirement System increased its position in Apptio by 12.3% in the third quarter. California State Teachers Retirement System now owns 35,252 shares of the technology company’s stock worth $651,000 after purchasing an additional 3,852 shares during the period. Finally, OxFORD Asset Management LLP increased its position in Apptio by 22.9% in the third quarter. OxFORD Asset Management LLP now owns 316,039 shares of the technology company’s stock worth $5,749,000 after purchasing an additional 58,884 shares during the period. Hedge funds and other institutional investors own 44.98% of the company’s stock.
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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