AvePoint, Inc. (NASDAQ:AVPT) Receives $20.80 Average PT from Brokerages

Key Points

• AvePoint, Inc. has received a consensus rating of "Moderate Buy" from analysts, with two hold recommendations, four buy recommendations, and one strong buy recommendation.
• The average twelve-month price target for AvePoint's stock is $20.80, with some analysts setting targets as high as $25.00.
• Insider transactions reported a sale of 35,000 shares by an insider, indicating a 2.94% decrease in their ownership of the stock, while 44.49% of shares are owned by institutional investors.

Shares of AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $20.80.

AVPT has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of AvePoint in a research report on Monday, July 21st. They set a "buy" rating and a $22.00 price target for the company. Citigroup cut their price objective on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, August 18th. B. Riley began coverage on shares of AvePoint in a report on Tuesday, August 26th. They set a "buy" rating and a $25.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Finally, Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a report on Friday, July 25th.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $15.47, for a total transaction of $541,450.00. Following the transaction, the insider owned 1,155,443 shares in the company, valued at $17,874,703.21. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 105,000 shares of company stock worth $1,835,400 in the last 90 days. Corporate insiders own 26.19% of the company's stock.

Hedge Funds Weigh In On AvePoint

Hedge funds have recently modified their holdings of the stock. Heck Capital Advisors LLC acquired a new position in shares of AvePoint during the fourth quarter valued at about $29,000. Versant Capital Management Inc acquired a new position in AvePoint in the 1st quarter worth approximately $31,000. Advisors Asset Management Inc. increased its holdings in AvePoint by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock worth $44,000 after buying an additional 919 shares during the period. Point72 Hong Kong Ltd acquired a new position in AvePoint in the 4th quarter worth approximately $40,000. Finally, Summit Securities Group LLC increased its holdings in AvePoint by 621.7% in the 1st 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 during the period. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Stock Up 0.9%

NASDAQ:AVPT traded up $0.15 during mid-day trading on Wednesday, reaching $16.27. The company's stock had a trading volume of 1,017,507 shares, compared to its average volume of 1,384,031. AvePoint has a 1 year low of $11.34 and a 1 year high of $20.25. The stock has a fifty day moving average of $17.25 and a 200-day moving average of $16.83. The firm has a market capitalization of $3.45 billion, a PE ratio of -325.33 and a beta of 1.40.

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.