Insider Selling: Apptio Inc. (APTI) Insider Sells 28,337 Shares of Stock

Apptio Inc. (NASDAQ:APTI) insider John C. Morrow sold 28,337 shares of Apptio stock in a transaction on Friday, November 17th. The stock was sold at an average price of $22.55, for a total value of $638,999.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Apptio Inc. (NASDAQ APTI) traded down $0.37 during mid-day trading on Monday, hitting $22.11. The company had a trading volume of 763,369 shares, compared to its average volume of 334,043. Apptio Inc. has a twelve month low of $10.77 and a twelve month high of $24.50.

Apptio (NASDAQ:APTI) last posted its quarterly earnings results on Monday, October 30th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $47.00 million for the quarter, compared to analyst estimates of $44.86 million. During the same period in the prior year, the company posted ($0.45) EPS. The business’s revenue was up 15.8% compared to the same quarter last year. research analysts predict that Apptio Inc. will post -0.69 earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its position in 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. Nationwide Fund Advisors increased its position in Apptio by 244.9% in the second quarter. Nationwide Fund Advisors now owns 10,199 shares of the technology company’s stock worth $177,000 after buying an additional 7,242 shares during the period. HighTower Advisors LLC increased its position in 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. Cubist Systematic Strategies LLC bought a new position in shares of Apptio in the second quarter worth $207,000. Finally, Trexquant Investment LP bought a new position in shares of Apptio in the third quarter worth $230,000. 46.05% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $27.00 target price on shares of Apptio in a research note on Thursday, November 9th. Zacks Investment Research raised shares of Apptio from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Thursday, November 2nd. KeyCorp reaffirmed a “buy” rating and set a $25.00 price objective on shares of Apptio in a research note on Wednesday, November 1st. Bank of America Corporation upped their price objective on shares of Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, Barclays PLC boosted their target price on Apptio from $19.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $24.38.

About Apptio

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.

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

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