AvePoint's (AVPT) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• AvePoint (AVPT) has had its stock rating reaffirmed as "sell (D-)" by Weiss Ratings, amid mixed analyst sentiments.
• The stock recently traded up 3.0%, reaching $15.25, while having a 52-week low of $11.61 and a high of $20.25.
• Insider selling has occurred, with CFO James Caci selling 216,000 shares, indicating a 50.35% decrease in ownership.

AvePoint (NASDAQ:AVPT - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other research analysts have also issued reports about the stock. DA Davidson began coverage on shares of AvePoint in a research note on Monday, September 22nd. They set a "buy" rating and a $20.00 target price for the company. Citigroup lowered their target price on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. Dbs Bank upgraded AvePoint to a "moderate buy" rating in a research report on Monday. B. Riley assumed coverage on shares of AvePoint in a report on Tuesday, August 26th. They issued a "buy" rating and a $25.00 price objective for the company. Finally, Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.67.

AvePoint Stock Up 3.0%

NASDAQ AVPT traded up $0.45 during trading hours on Wednesday, hitting $15.25. The company had a trading volume of 917,889 shares, compared to its average volume of 1,349,892. The business has a fifty day simple moving average of $15.86 and a 200-day simple moving average of $16.86. The firm has a market cap of $3.23 billion, a P/E ratio of -304.94 and a beta of 1.41. AvePoint has a fifty-two week low of $11.61 and a fifty-two week high of $20.25.

Insiders Place Their Bets

In other news, CFO James Caci sold 216,000 shares of AvePoint stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total transaction of $3,285,360.00. Following the transaction, the chief financial officer owned 213,030 shares in the company, valued at approximately $3,240,186.30. The trade was a 50.35% decrease in their ownership of the stock. The sale 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 AvePoint stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $15.56, for a total value of $544,600.00. Following the transaction, the insider owned 633,741 shares in the company, valued at $9,861,009.96. This represents a 5.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,668,932 shares of company stock worth $86,363,131 in the last quarter. Corporate insiders own 26.19% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. grew its holdings in shares of AvePoint by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock valued at $44,000 after acquiring an additional 919 shares in the last quarter. Summit Securities Group LLC grew its stake in AvePoint by 621.7% in 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 in the last quarter. Quarry LP grew its stake in AvePoint by 2,028.3% in the first quarter. Quarry LP now owns 3,831 shares of the company's stock valued at $55,000 after purchasing an additional 3,651 shares in the last quarter. KBC Group NV purchased a new position in AvePoint in the first quarter valued at about $67,000. Finally, RiverPark Advisors LLC purchased a new position in AvePoint in the second quarter valued at about $103,000. Hedge funds and other institutional investors 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.

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