Continuing the strong showing this year for tech IPOs, Alteryx, a provider of self-service data analytics software, rang the opening bell on Friday, March 24, in advance of its initial public offering on the NYSE under the name, AYX.
The company had announced the pricing of its initial public offering of 9,000,000 shares of its Class A common stock at a price of $14 per share.
Goldman, Sachs & Co. and J.P. Morgan Securities LLC acted as joint book-running managers for the offering. Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., William Blair & Company, L.L.C., JMP Securities LLC, Raymond James & Associates, Inc. and Cowen and Company, LLC are acting as co-managers.
According to market reports, the stock opened at $17.25 just before 10:30 ET on the stock market on its first trading day.
Weighing in on the IPO, Adam Wilson, CEO of data wrangling software provider Trifacta, said that it is further proof of the growing demand for self-service data preparation technologies.
“As more organizations deploy data analytics programs, they’re recognizing the value of empowering nontechnical users to work more productively with data. Rather than having analysts spend 80 percent of their time wrangling data, enterprises are bypassing the biggest bottleneck in the data lifecycle by leveraging emerging technologies that expedite the analysis process,” said Wilson. “Alteryx’s IPO and recent reports by leading analyst firms are echoing what we are seeing around the globe where adoption rates have increased over the last year - more than tripling the number of Trifacta’s enterprise customers to date.”
More information about Alteryx, its growth strategy and the overall business analytics software landscape is available in the company’s SEC Form S-1.