AvePoint (NASDAQ:AVPT) Stock Price Down 4.6% - Here's What Happened

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on AVPT. 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 research report on Monday, May 12th. Scotiabank increased their price target on AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.40.

AvePoint Price Performance

The firm has a fifty day simple moving average of $18.68 and a two-hundred day simple moving average of $17.13. The firm has a market capitalization of $3.62 billion, a P/E ratio of -137.14 and a beta of 1.33.

Insider Buying and Selling at AvePoint

In other AvePoint news, Director Jeff Epstein sold 500,000 shares of the 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 of the company's stock, valued at approximately $21,733,614.07. This represents a 30.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $18.23, for a total value of $638,050.00. Following the completion of the transaction, the insider directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 605,000 shares of company stock valued at $11,188,550. 26.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AvePoint

Large investors have recently made changes to their positions in the stock. Northern Trust Corp boosted its holdings in shares of AvePoint by 9.4% in the fourth quarter. Northern Trust Corp now owns 1,160,554 shares of the company's stock worth $19,161,000 after acquiring an additional 99,725 shares during the period. Raymond James Financial Inc. bought a new position in shares of AvePoint in the fourth quarter worth $18,067,000. Two Sigma Investments LP boosted its holdings in shares of AvePoint by 155.5% in the fourth quarter. Two Sigma Investments LP now owns 108,192 shares of the company's stock worth $1,786,000 after acquiring an additional 65,852 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of AvePoint by 8.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company's stock worth $222,000 after acquiring an additional 1,042 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of AvePoint by 282.9% in the fourth quarter. Ameriprise Financial Inc. now owns 45,751 shares of the company's stock worth $755,000 after acquiring an additional 33,801 shares during the period. 44.49% of the stock is owned by institutional investors.

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.