AvePoint (NASDAQ:AVPT) Now Covered by B. Riley

Key Points

• B. Riley has initiated coverage on AvePoint (NASDAQ:AVPT) with a "buy" rating, indicating positive sentiment towards the stock.
• AvePoint's average rating stands at "Buy" with a consensus price target of $20.80, following recent ratings from multiple analysts.
• Insider trading activity reveals significant sales, with one director selling 500,000 shares worth approximately $9.4 million, representing a notable decrease in their ownership stake.

Investment analysts at B. Riley started coverage on shares of AvePoint (NASDAQ:AVPT - Get Free Report) in a note issued to investors on Monday, Marketbeat reports. The brokerage set a "buy" rating on the stock.

AVPT has been the subject of several other research reports. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Scotiabank upped their price objective 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. Jefferies Financial Group began coverage on AvePoint in a research note on Monday, July 21st. They set a "buy" rating and a $22.00 target price for the company. Citigroup dropped their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, August 18th. Finally, The Goldman Sachs Group lifted their price objective on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $20.80.

AvePoint Stock Performance

NASDAQ AVPT opened at $15.36 on Monday. The company has a market capitalization of $3.26 billion, a PE ratio of -307.14 and a beta of 1.35. AvePoint has a 52-week low of $10.65 and a 52-week high of $20.25. The company has a 50-day simple moving average of $17.66 and a 200 day simple moving average of $17.02.

Insider Buying and Selling

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total transaction of $655,900.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 value 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. This trade represents a 30.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 570,000 shares of company stock worth $10,678,950. 26.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AvePoint

A number of institutional investors have recently made changes to their positions in AVPT. Heck Capital Advisors LLC bought a new position in AvePoint during the fourth quarter valued at about $29,000. Versant Capital Management Inc acquired a new position in AvePoint during the 1st quarter worth $31,000. Summit Securities Group LLC lifted its stake in shares of AvePoint by 621.7% in the 1st quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock valued at $38,000 after purchasing an additional 2,263 shares during the period. Point72 Hong Kong Ltd acquired a new stake in AvePoint during the 4th quarter worth $40,000. Finally, Advisors Asset Management Inc. raised its stake in AvePoint by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock worth $44,000 after buying an additional 919 shares during the period. 44.49% of the stock is currently owned by institutional investors.

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.