AvePoint (NASDAQ:AVPT) Shares Gap Down - Time to Sell?

Key Points

• AvePoint (NASDAQ:AVPT) shares opened at $15.36 after closing at $15.75, reflecting a gap down prior to the market opening.
• Analysts have provided a mixed outlook, with a consensus target price of $20.80 and ratings ranging from "Strong Buy" to "Neutral".
• Insider Brian Michael Brown sold 35,000 shares of AvePoint stock valued at around $541,450, reducing their ownership by nearly 3%.

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $15.75, but opened at $15.36. AvePoint shares last traded at $15.32, with a volume of 280,378 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AVPT shares. Jefferies Financial Group started 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. B. Riley started coverage on shares of AvePoint in a research report on Tuesday, August 26th. They set a "buy" rating and a $25.00 price target for the company. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Finally, Citigroup dropped their target price on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, AvePoint currently has an average rating of "Moderate Buy" and a consensus target price of $20.80.

AvePoint Trading Down 1.8%

The company's 50 day moving average is $16.71 and its 200-day moving average is $16.79. The company has a market capitalization of $3.32 billion, a P/E ratio of -313.34 and a beta of 1.40.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the firm'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 sale, the insider owned 1,155,443 shares of the company's stock, valued at $17,874,703.21. This trade represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 105,000 shares of company stock worth $1,835,400. Company insiders own 26.19% of the company's stock.

Hedge Funds Weigh In On AvePoint

Institutional investors and hedge funds have recently made changes to their positions in the business. M&T Bank Corp lifted its holdings in AvePoint by 3.0% during the first quarter. M&T Bank Corp now owns 22,058 shares of the company's stock valued at $319,000 after purchasing an additional 634 shares in the last quarter. ProShare Advisors LLC lifted its holdings in AvePoint by 1.7% during the second quarter. ProShare Advisors LLC now owns 37,656 shares of the company's stock valued at $727,000 after purchasing an additional 638 shares in the last quarter. State of Wyoming lifted its holdings in AvePoint by 3.0% during the first quarter. State of Wyoming now owns 27,128 shares of the company's stock valued at $392,000 after purchasing an additional 780 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in AvePoint by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock valued at $44,000 after purchasing an additional 919 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in AvePoint by 3.1% during the first quarter. SG Americas Securities LLC now owns 30,982 shares of the company's stock valued at $447,000 after purchasing an additional 922 shares in the last quarter. Hedge funds and other institutional investors own 44.49% of the company's stock.

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.