Apigee Corp. (NASDAQ:APIC) dropped 3.4% on Wednesday . The company traded as low as $15.40 and last traded at $15.49, with a volume of 62,965 shares changing hands. The stock had previously closed at $16.03.

APIC has been the topic of a number of research analyst reports. Zacks Investment Research raised Apigee Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Roth Capital raised their target price on Apigee Corp. from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, May 26th. Finally, Pacific Crest reaffirmed a “buy” rating on shares of Apigee Corp. in a report on Sunday, May 22nd.

The company’s 50-day moving average price is $13.06 and its 200 day moving average price is $10.30. The stock’s market capitalization is $454.13 million.

Apigee Corp. (NASDAQ:APIC) last posted its quarterly earnings results on Wednesday, May 25th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. During the same period last year, the firm posted ($0.41) EPS. The company earned $23.50 million during the quarter, compared to the consensus estimate of $23.17 million. The company’s revenue for the quarter was up 35.8% compared to the same quarter last year. On average, equities analysts predict that Apigee Corp. will post ($1.14) earnings per share for the current fiscal year.

In related news, VP Shankar Ramaswamy sold 15,636 shares of Apigee Corp. stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $11.49, for a total value of $179,657.64. Following the sale, the vice president now owns 103,350 shares of the company’s stock, valued at approximately $1,187,491.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Apigee Corporation (Apigee) is a provider of an application program interface (API)-based software platform that enables digital connectivity and business insights. The Company’s platform allows businesses to design, deploy and scale APIs as a connection layer between its information technology (IT) systems and data and the applications with which its customers, partners, employees and other users engage with its business.

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