AvePoint, Inc. (NASDAQ:AVPT) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• AvePoint, Inc. (NASDAQ:AVPT) has received a consensus recommendation of "Moderate Buy" from six brokerages, with a 12-month price target averaging $19.25.
• Insider selling activity includes Director Jeff Epstein selling 500,000 shares for approximately $9.4 million, representing a 30.16% decrease in his ownership.
• Despite the positive ratings, AvePoint's stock has seen a significant decline of 18.1%, currently trading at $14.33, below its 50-day moving average price of $18.61.

Shares of AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) have earned an average rating of "Moderate Buy" from the six ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $19.25.

A number of brokerages recently commented on AVPT. The Goldman Sachs Group raised their target price on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Scotiabank lifted their price target on AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 9th. Finally, Jefferies Financial Group started coverage on AvePoint in a research report on Monday, July 21st. They set a "buy" rating and a $22.00 price target on the stock.

Insiders Place Their Bets

In related news, Director Jeff Epstein sold 500,000 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the transaction, the director owned 1,157,891 shares of the company's stock, valued at $21,733,614.07. This represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total value of $655,900.00. Following the transaction, the insider directly owned 1,190,443 shares in the company, valued at $22,308,901.82. This represents a 2.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 605,000 shares of company stock worth $11,315,600 in the last ninety days. 26.19% of the stock is currently owned by corporate insiders.

Institutional Trading of AvePoint

A number of institutional investors have recently bought and sold shares of AVPT. M&T Bank Corp increased its stake in AvePoint by 3.0% in the first quarter. M&T Bank Corp now owns 22,058 shares of the company's stock valued at $319,000 after purchasing an additional 634 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of AvePoint by 1.7% in the second quarter. ProShare Advisors LLC now owns 37,656 shares of the company's stock valued at $727,000 after buying an additional 638 shares in the last quarter. State of Wyoming grew its stake in shares of AvePoint by 3.0% in the first quarter. State of Wyoming now owns 27,128 shares of the company's stock valued at $392,000 after buying an additional 780 shares in the last quarter. SG Americas Securities LLC grew its stake in AvePoint by 3.1% during the 1st quarter. SG Americas Securities LLC now owns 30,982 shares of the company's stock valued at $447,000 after purchasing an additional 922 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in AvePoint by 8.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company's stock valued at $222,000 after purchasing an additional 1,042 shares in the last quarter. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

AvePoint Trading Up 1.0%

AvePoint stock traded up $0.15 during midday trading on Friday, reaching $14.87. 1,111,243 shares of the stock traded hands, compared to its average volume of 1,356,138. The company has a 50-day simple moving average of $18.53 and a two-hundred day simple moving average of $17.30. AvePoint has a 12-month low of $10.27 and a 12-month high of $20.25. The firm has a market cap of $3.02 billion, a PE ratio of -298.04 and a beta of 1.35.

About AvePoint

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.