AvePoint (NASDAQ:AVPT) Raised to Moderate Buy at Dbs Bank

Key Points

• AvePoint has been upgraded to a "moderate buy" rating by Dbs Bank, as stated in a recent research report.
• The current average price target for AvePoint's stock is $20.67, with seven analysts rating it as either Buy or Strong Buy.
• Recently, insider transactions included CEO Tianyi Jiang selling over 2 million shares of stock, indicating a 13% decrease in ownership.

AvePoint (NASDAQ:AVPT - Get Free Report) was upgraded by Dbs Bank to a "moderate buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. DA Davidson initiated coverage on AvePoint in a research report on Monday, September 22nd. They set a "buy" rating and a $20.00 price target for the company. Jefferies Financial Group initiated coverage on AvePoint in a research report on Monday, July 21st. They set a "buy" rating and a $22.00 price target for the company. Cantor Fitzgerald raised AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Citigroup lowered their price target on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Finally, B. Riley began coverage on AvePoint in a research note on Tuesday, August 26th. They set a "buy" rating and a $25.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, AvePoint has an average rating of "Moderate Buy" and an average price target of $20.67.

AvePoint Stock Down 2.9%

Shares of NASDAQ:AVPT opened at $14.80 on Monday. The company has a market cap of $3.14 billion, a P/E ratio of -295.94 and a beta of 1.41. AvePoint has a 52 week low of $11.61 and a 52 week high of $20.25. The business has a fifty day simple moving average of $15.86 and a 200-day simple moving average of $16.86.

Insider Transactions at AvePoint

In related news, CEO Tianyi Jiang sold 2,068,966 shares of the business's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $31,468,972.86. Following the completion of the sale, the chief executive officer directly owned 13,841,853 shares of the company's stock, valued at $210,534,584.13. The trade was a 13.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $15.56, for a total value of $544,600.00. Following the completion of the sale, the insider directly owned 633,741 shares of the company's stock, valued at approximately $9,861,009.96. This represents a 5.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,668,932 shares of company stock valued at $86,363,131 over the last 90 days. Corporate insiders own 26.19% of the company's stock.

Hedge Funds Weigh In On AvePoint

Several institutional investors have recently made changes to their positions in the stock. TT International Asset Management LTD bought a new position in shares of AvePoint during the third quarter valued at approximately $2,094,000. Osaic Holdings Inc. grew its holdings in shares of AvePoint by 93.0% during the second quarter. Osaic Holdings Inc. now owns 19,267 shares of the company's stock valued at $372,000 after purchasing an additional 9,284 shares during the last quarter. Caxton Associates LLP grew its holdings in shares of AvePoint by 108.8% during the second quarter. Caxton Associates LLP now owns 50,778 shares of the company's stock valued at $981,000 after purchasing an additional 26,455 shares during the last quarter. Castleark Management LLC bought a new position in shares of AvePoint during the second quarter valued at approximately $6,102,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of AvePoint by 93.4% during the second quarter. Tower Research Capital LLC TRC now owns 14,933 shares of the company's stock valued at $288,000 after purchasing an additional 7,210 shares during the last quarter. 44.49% of the stock is 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.

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