AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $17.50, but opened at $16.34. AvePoint shares last traded at $14.79, with a volume of 771,863 shares changing hands.
Analyst Upgrades and Downgrades
AVPT has been the subject of several recent research reports. The Goldman Sachs Group boosted 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. Scotiabank lifted 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. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a report on Friday, July 25th. Finally, Jefferies Financial Group initiated coverage on shares of AvePoint in a report on Monday, July 21st. They set a "buy" rating and a $22.00 price target on the stock. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AvePoint presently has an average rating of "Moderate Buy" and an average price target of $19.25.
Check Out Our Latest Stock Analysis on AVPT
AvePoint Stock Up 1.4%
The firm's fifty day moving average price is $18.53 and its 200 day moving average price is $17.30. The stock has a market cap of $3.03 billion, a PE ratio of -298.30 and a beta of 1.35.
Insider Buying and Selling at AvePoint
In other news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.74, for a total value of $655,900.00. Following the transaction, the insider owned 1,190,443 shares of the company's stock, valued at approximately $22,308,901.82. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 1,157,891 shares in the company, valued at $21,733,614.07. This trade represents a 30.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 605,000 shares of company stock worth $11,315,600 in the last three months. Insiders own 26.19% of the company's stock.
Institutional Investors Weigh In On AvePoint
Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in 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 purchasing an additional 4,348 shares in the last quarter. Northern Trust Corp raised its stake in 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 purchasing an additional 99,725 shares in the last quarter. Two Sigma Investments LP raised its stake in 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 purchasing an additional 65,852 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in 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 purchasing an additional 1,042 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in AvePoint by 282.9% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 44.49% of the company's stock.
About AvePoint
(
Get Free Report)
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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