Apptio (APTI) Upgraded at BidaskClub
Apptio (NASDAQ:APTI) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
Other analysts have also issued research reports about the stock. Bank of America raised their price target on shares of Apptio from $20.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Oppenheimer reissued a “buy” rating and issued a $27.00 price target on shares of Apptio in a report on Thursday, November 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price target (up previously from $23.00) on shares of Apptio in a report on Tuesday, October 31st. Barclays raised their price objective on shares of Apptio from $19.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Finally, JMP Securities initiated coverage on shares of Apptio in a research note on Monday, November 27th. They issued an “outperform” rating and a $28.00 price objective on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Apptio presently has a consensus rating of “Buy” and an average target price of $24.78.
Shares of Apptio (NASDAQ:APTI) traded down $0.15 during trading on Friday, hitting $24.20. 418,631 shares of the company were exchanged, compared to its average volume of 404,462. The firm has a market capitalization of $971.38 and a price-to-earnings ratio of -35.59. Apptio has a fifty-two week low of $10.77 and a fifty-two week high of $25.49.
In other news, CRO Lawrence Blasko sold 45,000 shares of Apptio stock in a transaction on Monday, November 6th. The shares were sold at an average price of $21.84, for a total transaction of $982,800.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher Pick sold 171,000 shares of Apptio stock in a transaction on Monday, November 6th. The stock was sold at an average price of $21.83, for a total transaction of $3,732,930.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 727,185 shares of company stock worth $16,070,951. Insiders own 43.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in APTI. SQN Investors LP bought a new position in shares of Apptio during the second quarter worth $23,378,000. FMR LLC lifted its position in Apptio by 113.5% in the 2nd quarter. FMR LLC now owns 2,042,166 shares of the technology company’s stock valued at $35,432,000 after acquiring an additional 1,085,566 shares in the last quarter. GMT Capital Corp bought a new stake in Apptio in the 2nd quarter valued at $17,495,000. Janus Henderson Group PLC bought a new stake in Apptio in the 2nd quarter valued at $12,320,000. Finally, Laurion Capital Management LP bought a new stake in Apptio in the 2nd quarter valued at $9,510,000. 45.56% of the stock is currently owned by institutional investors.
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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