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

Shares of AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $17.40.

Several analysts have issued reports on the stock. Citigroup cut their target price on shares of AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Scotiabank upped their price target on shares of AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 9th. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group upped their price target on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th.

Insider Buying and Selling at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $18.19, for a total transaction of $636,650.00. Following the completion of the sale, the insider now owns 1,277,145 shares of the company's stock, valued at approximately $23,231,267.55. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeff Epstein sold 500,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 1,157,891 shares of the company's stock, 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 570,000 shares of company stock worth $10,550,500 over the last ninety days. Company insiders own 26.19% of the company's stock.

Institutional Trading of AvePoint

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of AvePoint by 1.3% during the 4th quarter. Rhumbline Advisers now owns 182,990 shares of the company's stock worth $3,021,000 after purchasing an additional 2,330 shares during the last quarter. Principal Securities Inc. grew its stake in AvePoint by 12,961.9% in the 4th quarter. Principal Securities Inc. now owns 2,743 shares of the company's stock valued at $45,000 after buying an additional 2,722 shares during the last quarter. Principal Financial Group Inc. grew its stake in AvePoint by 9.1% in the 4th quarter. Principal Financial Group Inc. now owns 74,048 shares of the company's stock valued at $1,223,000 after buying an additional 6,186 shares during the last quarter. Global Retirement Partners LLC acquired a new position in AvePoint in the 4th quarter valued at about $25,000. Finally, Handelsbanken Fonder AB acquired a new position in AvePoint in the 4th quarter valued at about $457,000. Institutional investors and hedge funds own 44.49% of the company's stock.

AvePoint Price Performance

Shares of NASDAQ AVPT traded up $0.38 during midday trading on Friday, hitting $18.34. 1,527,303 shares of the company's stock were exchanged, compared to its average volume of 1,245,539. The firm has a market cap of $3.73 billion, a P/E ratio of -141.07 and a beta of 1.34. AvePoint has a twelve month low of $9.38 and a twelve month high of $20.25. The stock's 50 day moving average price is $17.75 and its 200-day moving average price is $17.06.

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.