AvePoint (NASDAQ:AVPT) Trading Down 4.6% - What's Next?

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report)'s share price traded down 4.6% on Thursday . The stock traded as low as $18.04 and last traded at $17.96. 168,883 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,312,292 shares. The stock had previously closed at $18.83.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Scotiabank upped their price target on AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 9th. The Goldman Sachs Group increased their price target on AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, AvePoint has an average rating of "Moderate Buy" and an average price target of $17.40.

AvePoint Price Performance

The stock has a market cap of $3.62 billion, a PE ratio of -137.14 and a beta of 1.33. The stock has a 50-day moving average price of $18.67 and a two-hundred day moving average price of $17.13.

Insider Activity

In other AvePoint news, Director Jeff Epstein sold 500,000 shares of the business'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 transaction of $9,385,000.00. Following the completion of the transaction, the director owned 1,157,891 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $18.23, for a total value of $638,050.00. Following the completion of the sale, the insider owned 1,225,443 shares of the company's stock, valued at $22,339,825.89. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 605,000 shares of company stock valued at $11,188,550. 26.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AvePoint

Large investors have recently made changes to their positions in the business. M&T Bank Corp boosted its holdings in AvePoint by 3.0% in 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 during the last quarter. State of Wyoming boosted its position in AvePoint by 3.0% in the 1st quarter. State of Wyoming now owns 27,128 shares of the company's stock valued at $392,000 after buying an additional 780 shares during the period. SG Americas Securities LLC raised its holdings in shares of AvePoint by 3.1% in the 1st 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. Summit Investment Advisors Inc. lifted its holdings in shares of AvePoint by 8.4% in the 4th 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 during the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its stake in shares of AvePoint by 4.9% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 23,961 shares of the company's stock worth $346,000 after acquiring an additional 1,117 shares during the period. 44.49% of the stock is owned by institutional investors and hedge funds.

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.