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

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 recommendation of "Moderate Buy" from the six analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $19.25.

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

AvePoint Trading Up 0.1%

NASDAQ AVPT traded up $0.01 during trading on Friday, hitting $14.91. 242,427 shares of the company traded hands, compared to its average volume of 1,354,045. The company has a market capitalization of $3.03 billion, a P/E ratio of -298.12 and a beta of 1.35. The business has a fifty day simple moving average of $18.45 and a 200 day simple moving average of $17.28. AvePoint has a 12 month low of $10.59 and a 12 month high of $20.25.

Insider Buying and Selling at AvePoint

In related news, Director Jeff Epstein sold 500,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the completion of the transaction, the director directly owned 1,157,891 shares in the company, valued at $21,733,614.07. This represents a 30.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.74, for a total transaction of $655,900.00. Following the completion of the sale, the insider directly owned 1,190,443 shares of the company's stock, valued at approximately $22,308,901.82. This trade represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 605,000 shares of company stock worth $11,315,600. 26.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AvePoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in shares of AvePoint during the fourth quarter valued at approximately $29,000. Versant Capital Management Inc acquired a new stake in AvePoint during the first quarter worth $31,000. Summit Securities Group LLC boosted its stake in AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after buying an additional 2,263 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in AvePoint in the 4th quarter valued at $40,000. Finally, Advisors Asset Management Inc. raised its stake in shares of AvePoint by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock valued at $44,000 after buying an additional 919 shares in the last quarter. 44.49% of the stock is currently owned by institutional investors.

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.