AvePoint, Inc. (NASDAQ:AVPT) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $17.40.

Several analysts recently commented on AVPT shares. The Goldman Sachs Group raised their target price on AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Scotiabank raised their price objective on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a report on Friday, May 9th.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $18.23, for a total transaction of $638,050.00. Following the transaction, the insider owned 1,225,443 shares in the company, valued at approximately $22,339,825.89. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeff Epstein sold 500,000 shares of AvePoint stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total value of $9,385,000.00. Following the transaction, the director owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 605,000 shares of company stock worth $11,188,550 over the last ninety days. Corporate insiders own 26.19% of the company's stock.

Hedge Funds Weigh In On AvePoint

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in AvePoint by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company's stock worth $252,276,000 after buying an additional 150,885 shares in the last quarter. Wellington Management Group LLP raised its position in AvePoint by 5.3% in the first quarter. Wellington Management Group LLP now owns 6,770,712 shares of the company's stock valued at $97,769,000 after purchasing an additional 340,509 shares during the period. Parsifal Capital Management LP raised its position in AvePoint by 130.3% in the first quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company's stock valued at $73,366,000 after purchasing an additional 2,874,842 shares during the period. Geode Capital Management LLC raised its position in AvePoint by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company's stock valued at $47,067,000 after purchasing an additional 20,720 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in AvePoint by 566.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock valued at $44,220,000 after purchasing an additional 2,276,258 shares during the period. Hedge funds and other institutional investors own 44.49% of the company's stock.

AvePoint Trading Up 0.7%

Shares of AVPT stock traded up $0.13 during mid-day trading on Tuesday, reaching $19.09. The stock had a trading volume of 405,990 shares, compared to its average volume of 1,234,433. The business's fifty day moving average is $18.80 and its 200-day moving average is $17.17. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of -146.95 and a beta of 1.33. AvePoint has a 1-year low of $9.38 and a 1-year high of $20.25.

AvePoint Company Profile

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.