AvePoint (NASDAQ:AVPT) Rating Increased to Strong-Buy at Cantor Fitzgerald

Key Points

• AvePoint has been upgraded to a "strong-buy" rating by Cantor Fitzgerald, indicating positive confidence in the company's stock by analysts.
• Various research firms have adjusted their price targets for AvePoint, with Scotiabank increasing theirs from $19.00 to $22.00, reflecting a bullish outlook on the stock.
• Insider trading activity includes Director Jeff Epstein selling 500,000 shares, which accounts for a significant 30.16% reduction in his ownership of the stock.

AvePoint (NASDAQ:AVPT - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "strong-buy" rating in a research note issued on Friday,Zacks.com reports.

A number of other research firms have also recently issued reports on AVPT. Jefferies Financial Group initiated coverage on shares of AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 target price for the company. The Goldman Sachs Group upped their target price 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. Finally, Scotiabank boosted their price target on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.17.

AvePoint Stock Performance

Shares of AvePoint stock traded down $0.19 during midday trading on Friday, hitting $18.37. The company's stock had a trading volume of 1,017,400 shares, compared to its average volume of 1,074,057. The stock has a 50-day simple moving average of $18.71 and a 200-day simple moving average of $17.29. AvePoint has a 1-year low of $9.38 and a 1-year high of $20.25.

Insider Activity

In related news, Director Jeff Epstein sold 500,000 shares of the business's stock in a transaction that occurred 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 sale, the director directly owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 1,190,443 shares of the company's stock, valued at $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. Over the last quarter, insiders sold 605,000 shares of company stock valued at $11,315,600. 26.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of AvePoint by 5.9% during the first quarter. Principal Financial Group Inc. now owns 78,396 shares of the company's stock valued at $1,132,000 after buying an additional 4,348 shares during the last quarter. Northern Trust Corp lifted its position in shares of AvePoint by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,160,554 shares of the company's stock valued at $19,161,000 after buying an additional 99,725 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of AvePoint by 155.5% during the fourth quarter. Two Sigma Investments LP now owns 108,192 shares of the company's stock valued at $1,786,000 after buying an additional 65,852 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of AvePoint by 8.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company's stock valued at $222,000 after buying an additional 1,042 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of AvePoint by 282.9% in the 4th quarter. Ameriprise Financial Inc. now owns 45,751 shares of the company's stock valued at $755,000 after purchasing an additional 33,801 shares during the last quarter. Institutional investors own 44.49% of the company's stock.

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.