Brokerages Set AvePoint, Inc. (NASDAQ:AVPT) PT at $17.40

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) has earned an average rating of "Moderate Buy" from the six research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $17.40.

AVPT has been the topic of a number of research reports. The Goldman Sachs Group upped their price objective on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Scotiabank upped their target price on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. Citigroup cut their target price on AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, William Blair reiterated an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total value of $528,850.00. Following the completion of the sale, the insider now owns 1,312,145 shares of the company's stock, valued at approximately $19,826,510.95. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 26.19% of the company's stock.

Institutional Investors Weigh In On AvePoint

Several large investors have recently added to or reduced their stakes in AVPT. Parsifal Capital Management LP grew its stake in AvePoint by 130.3% during the first quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company's stock worth $73,366,000 after purchasing an additional 2,874,842 shares during the period. Wellington Management Group LLP grew its stake in AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company's stock worth $106,163,000 after purchasing an additional 2,332,813 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company's stock worth $44,220,000 after purchasing an additional 2,276,258 shares during the period. Jennison Associates LLC acquired a new stake in AvePoint during the first quarter worth approximately $30,648,000. Finally, Raymond James Financial Inc. acquired a new stake in AvePoint during the fourth quarter worth approximately $18,067,000. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Price Performance

NASDAQ AVPT traded up $0.43 on Monday, reaching $18.66. The stock had a trading volume of 1,204,562 shares, compared to its average volume of 1,244,534. The firm has a fifty day moving average of $16.05 and a two-hundred day moving average of $16.87. AvePoint has a 1-year low of $8.87 and a 1-year high of $20.25. The company has a market cap of $3.79 billion, a P/E ratio of -373.13 and a beta of 1.30.

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.