UBS Asset Management Americas Inc. raised its stake in shares of Apigee Corp. (NASDAQ:APIC) by 30.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 851,078 shares of the company’s stock after buying an additional 199,857 shares during the period. UBS Asset Management Americas Inc. owned 2.84% of Apigee Corp. worth $10,401,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Nationwide Fund Advisors raised its stake in shares of Apigee Corp. by 219.6% in the second quarter. Nationwide Fund Advisors now owns 9,861 shares of the company’s stock valued at $121,000 after buying an additional 6,776 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Apigee Corp. by 595.6% in the first quarter. Royal Bank of Canada now owns 18,782 shares of the company’s stock valued at $156,000 after buying an additional 16,082 shares during the period. Cowen Prime Services LLC raised its stake in shares of Apigee Corp. by 2.4% in the second quarter. Cowen Prime Services LLC now owns 17,000 shares of the company’s stock valued at $208,000 after buying an additional 400 shares during the period. California State Teachers Retirement System raised its stake in shares of Apigee Corp. by 200.8% in the second quarter. California State Teachers Retirement System now owns 32,291 shares of the company’s stock valued at $395,000 after buying an additional 21,556 shares during the period. Finally, Bogle Investment Management L P DE purchased a new stake in shares of Apigee Corp. during the first quarter valued at $399,000. 43.77% of the stock is owned by hedge funds and other institutional investors.
Apigee Corp. (NASDAQ:APIC) traded up 0.12% on Friday, reaching $17.41. The company’s stock had a trading volume of 277,391 shares. The stock has a 50-day moving average of $15.84 and a 200-day moving average of $11.88. The stock’s market cap is $525.97 million. Apigee Corp. has a one year low of $5.35 and a one year high of $17.84.
Apigee Corp. (NASDAQ:APIC) last released its earnings results on Wednesday, September 14th. The company reported ($0.21) 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 65.33% and a negative net margin of 45.11%. The business had revenue of $25.10 million for the quarter. During the same period last year, the firm posted ($0.38) earnings per share. The company’s revenue was up 34.2% compared to the same quarter last year. On average, analysts predict that Apigee Corp. will post ($0.74) EPS for the current fiscal year.
Several brokerages recently weighed in on APIC. Nomura lowered Apigee Corp. from a “buy” rating to a “neutral” rating in a report on Friday, September 9th. Zacks Investment Research raised Apigee Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. lowered Apigee Corp. from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $17.40 in a report on Wednesday, September 14th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Apigee Corp. presently has a consensus rating of “Hold” and an average price target of $17.47.
About Apigee Corp.
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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