Alteryx, Inc. (AYX) Sees Large Volume Increase on Analyst Upgrade

Alteryx, Inc. (NYSE:AYX) shares saw an uptick in trading volume on Monday after Bank of America Corporation raised their price target on the stock from $26.00 to $28.00. Bank of America Corporation currently has a buy rating on the stock. 2,014,700 shares traded hands during mid-day trading, an increase of 471% from the previous session’s volume of 353,143 shares.The stock last traded at $25.30 and had previously closed at $21.84.

A number of other analysts also recently issued reports on the stock. KeyCorp reissued an “overweight” rating and set a $29.00 price target (up from $24.00) on shares of Alteryx in a report on Thursday, November 9th. Zacks Investment Research downgraded shares of Alteryx from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $21.70.

In related news, major shareholder Qualified Master Fund L. Abdiel acquired 60,000 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were acquired at an average cost of $18.98 per share, with a total value of $1,138,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Dean Stoecker sold 600,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $20.24, for a total transaction of $12,144,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 2,317,500 shares of company stock worth $48,921,050 and have sold 7,700,000 shares worth $155,848,000.

A number of institutional investors and hedge funds have recently bought and sold shares of AYX. Ameriprise Financial Inc. purchased a new position in Alteryx during the first quarter valued at $438,000. JPMorgan Chase & Co. purchased a new position in Alteryx during the first quarter valued at $1,560,000. Principal Financial Group Inc. purchased a new position in Alteryx during the first quarter valued at $2,385,000. Wellington Management Group LLP purchased a new position in Alteryx during the first quarter valued at $286,000. Finally, FMR LLC purchased a new position in Alteryx during the first quarter valued at $6,400,000. 16.26% of the stock is currently owned by institutional investors and hedge funds.

Alteryx (NYSE:AYX) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.10. The business had revenue of $34.16 million for the quarter, compared to the consensus estimate of $32.06 million. Alteryx had a negative net margin of 18.68% and a negative return on equity of 19.62%. The company’s revenue was up 52.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) earnings per share. sell-side analysts anticipate that Alteryx, Inc. will post -0.47 earnings per share for the current year.

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Alteryx Company Profile

Alteryx, Inc is a United States-based provider of self-service data analytics software. The Company offers various products, such as Alteryx Designer, Alteryx Server and Alteryx Analytics Gallery. Alteryx Designer is a repeatable workflow for self-service data analytics. Alteryx Designer allows data analysts by combining data preparation, data blending, and analytics-predictive, statistical and spatial-using the same user interface.

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