Goodbye Alteryx, my first 10x'er

Today I sold off the vast majority of my position in Alteryx. While it’s not the first stock I’ve bought in my life, it’s my first highly success stock. I first got interested in Alteryx when I started using the software in 2015 during my time at PwC. Within 10 minutes, I knew the software could be game changing for many use cases.

The company went public in 2017 and I immediately bought the stock as a heavy user of the software at under $15. I bought and sold many more shares in the the last 4 years. I sold a large chunk last year at $157 to trim my heavily appreciated position. It was my first 10-bagger stock.

The company has gone through some rough times over the last year and half. Slowing growth rates and a reluctance from leadership to shift to the cloud has been the biggest contributors to the stock sitting at under $100 for the last few months.

I still believe in the value prop of the software but I do think the company has a bit of ways to go as it makes a shift to the cloud until I buy back in. There is a big leadership change at the top and the company may be at a pivotal point. For that reason, I decided to sell off most of my position. I held onto a few shares for sentimental reasons and for a reason to keep track of the company’s progress.

Goodbye for now Alteryx. You’ve been great to me.