AvePoint (NASDAQ:AVPT) Upgraded at DA Davidson

Key Points

• AvePoint (NASDAQ:AVPT) has been upgraded to a "strong-buy" rating by DA Davidson, alongside positive ratings from other analysts that suggest a consensus target price of $20.67.
• The company's stock opened at $15.58, with a market capitalization of $3.30 billion and a significant price-to-earnings ratio of -311.54.
• Recent insider trading showed substantial sales, with notable sales from CFO James Caci and insider Brian Michael Brown, indicating a 43.85% and 50.35% decrease in their respective positions.

AvePoint (NASDAQ:AVPT - Get Free Report) was upgraded by DA Davidson to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. B. Riley initiated coverage on shares of AvePoint in a research note on Tuesday, August 26th. They issued a "buy" rating and a $25.00 target price on the stock. Citigroup lowered their price target on AvePoint from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, August 18th. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. Finally, Jefferies Financial Group began coverage on AvePoint in a research report on Monday, July 21st. They issued a "buy" rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, AvePoint presently has an average rating of "Buy" and a consensus target price of $20.67.

AvePoint Stock Performance

NASDAQ AVPT opened at $15.58 on Monday. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -311.54 and a beta of 1.40. AvePoint has a one year low of $11.43 and a one year high of $20.25. The company's 50 day moving average price is $16.59 and its 200 day moving average price is $16.82.

Insider Buying and Selling

In other news, insider Brian Michael Brown sold 500,000 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $7,605,000.00. Following the completion of the sale, the insider directly owned 640,288 shares in the company, valued at approximately $9,738,780.48. The trade was a 43.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Caci sold 216,000 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $3,285,360.00. Following the transaction, the chief financial officer owned 213,030 shares in the company, valued at $3,240,186.30. This trade represents a 50.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,573,932 shares of company stock worth $84,912,156. 26.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Heck Capital Advisors LLC bought a new stake in shares of AvePoint during the 4th quarter valued at about $29,000. Versant Capital Management Inc acquired a new position in AvePoint in the first quarter valued at approximately $31,000. Summit Securities Group LLC grew its holdings in shares of AvePoint by 621.7% during the first 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 last quarter. Advisors Asset Management Inc. grew its holdings in shares of AvePoint by 68.4% during the second 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 last quarter. Finally, Quarry LP raised its position in shares of AvePoint by 2,028.3% during the 1st quarter. Quarry LP now owns 3,831 shares of the company's stock worth $55,000 after purchasing an additional 3,651 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.

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