AvePoint (NASDAQ:AVPT) Earns Buy Rating from Analysts at 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.

B. Riley initiated coverage on shares of AvePoint (NASDAQ:AVPT - Free Report) in a research note issued to investors on Monday, August 25th, Marketbeat reports. The firm issued a buy rating and a $25.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Scotiabank raised their price target on shares of AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Friday, May 9th. The Goldman Sachs Group raised their price target on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Jefferies Financial Group began coverage on shares of AvePoint in a report on Monday, July 21st. They set a "buy" rating and a $22.00 price target for the company. Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a report on Friday, July 25th. Finally, Citigroup lowered their price objective on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.80.

AvePoint Trading Up 1.6%

NASDAQ:AVPT traded up $0.26 during mid-day trading on Monday, hitting $16.36. 1,702,038 shares of the company's stock were exchanged, compared to its average volume of 1,683,191. AvePoint has a fifty-two week low of $11.27 and a fifty-two week high of $20.25. The company has a 50 day simple moving average of $17.49 and a 200-day simple moving average of $16.91. The firm has a market capitalization of $3.47 billion, a P/E ratio of -327.13 and a beta of 1.40.

Insider Buying and Selling at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction on Monday, August 25th. The shares were sold at an average price of $15.47, for a total value of $541,450.00. Following the completion of the sale, the insider owned 1,155,443 shares in the company, valued at $17,874,703.21. The trade was a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 105,000 shares of company stock valued at $1,835,400. Insiders own 26.19% of the company's stock.

Institutional Trading of AvePoint

Hedge funds have recently bought and sold shares of the business. Heck Capital Advisors LLC acquired a new stake in AvePoint in the 4th quarter valued at $29,000. Versant Capital Management Inc acquired a new stake in AvePoint in the 1st quarter valued at $31,000. Summit Securities Group LLC grew its position in 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 in the 4th quarter valued at $40,000. Finally, Advisors Asset Management Inc. grew its position in AvePoint by 68.4% in the 2nd 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 during the period. Institutional investors and hedge funds 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.