AvePoint (NASDAQ:AVPT) Shares Down 4.9% - Should You Sell?

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report)'s stock price fell 4.9% during mid-day trading on Tuesday . The stock traded as low as $18.46 and last traded at $18.56. 312,874 shares were traded during trading, a decline of 75% from the average session volume of 1,253,323 shares. The stock had previously closed at $19.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AVPT shares. Scotiabank raised their price objective 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. William Blair reaffirmed an "outperform" rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup cut their target price on AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Finally, The Goldman Sachs Group upped 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, AvePoint currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.40.

AvePoint Trading Down 2.0%

The stock has a fifty day moving average of $17.16 and a two-hundred day moving average of $17.06. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -371.73 and a beta of 1.34.

Insider Buying and Selling at AvePoint

In other AvePoint news, Director Jeff Epstein sold 500,000 shares of the stock in a transaction dated 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 transaction, the director now owns 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Michael Brown sold 35,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $18.19, for a total transaction of $636,650.00. Following the completion of the sale, the insider now directly owns 1,277,145 shares of the company's stock, valued at $23,231,267.55. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 605,000 shares of company stock worth $11,089,500. Company insiders own 26.19% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AVPT. Global Retirement Partners LLC acquired a new stake in AvePoint in the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new stake in shares of AvePoint in the 4th quarter valued at approximately $29,000. Versant Capital Management Inc bought a new stake in AvePoint during the first quarter worth $31,000. Summit Securities Group LLC grew its position 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 acquiring an additional 2,263 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of AvePoint in the 4th quarter valued at about $40,000. 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.