Citigroup Issues Pessimistic Forecast for AvePoint (NASDAQ:AVPT) Stock Price

Key Points

• Citigroup has lowered AvePoint's price target from $19.00 to $18.00, maintaining a "neutral" rating, which indicates a potential upside of 19.68%.
• AvePoint's stock is currently trading at $15.04, with a 1-year range between $10.65 and $20.25, reflecting its volatility in the market.
• Insider transactions have seen significant activity, with over 605,000 shares sold in the last ninety days, indicating possible shifts in insider confidence about the company's outlook.

AvePoint (NASDAQ:AVPT - Free Report) had its price objective reduced by Citigroup from $19.00 to $18.00 in a report published on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other brokerages have also recently weighed in on AVPT. The Goldman Sachs Group lifted their price target on shares of AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Jefferies Financial Group initiated coverage on shares of AvePoint in a research report on Monday, July 21st. They set a "buy" rating and a $22.00 price objective on the stock. Cantor Fitzgerald upgraded shares of AvePoint to a "strong-buy" rating in a research report on Friday, July 25th. Finally, Scotiabank raised their price objective on shares of AvePoint from $19.00 to $22.00 and gave the company a "sector outperform" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.75.

AvePoint Stock Performance

Shares of AvePoint stock traded up $0.65 on Monday, hitting $15.62. 1,304,713 shares of the company's stock were exchanged, compared to its average volume of 1,646,294. The company has a 50-day simple moving average of $17.80 and a 200-day simple moving average of $17.10. The stock has a market capitalization of $3.31 billion, a PE ratio of -312.34 and a beta of 1.35. AvePoint has a 1 year low of $10.65 and a 1 year high of $20.25.

Insider Buying and Selling at AvePoint

In other AvePoint news, Director Jeff Epstein sold 500,000 shares of AvePoint stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $18.77, for a total value of $9,385,000.00. Following the sale, the director directly owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.74, for a total transaction of $655,900.00. Following the completion of the sale, the insider owned 1,190,443 shares in the company, valued at approximately $22,308,901.82. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 570,000 shares of company stock worth $10,678,950 over the last 90 days. Insiders own 26.19% of the company's stock.

Institutional Trading of AvePoint

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caxton Associates LLP increased its holdings in AvePoint by 108.8% in the 2nd quarter. Caxton Associates LLP now owns 50,778 shares of the company's stock valued at $981,000 after acquiring an additional 26,455 shares during the last quarter. Castleark Management LLC bought a new stake in AvePoint in the 2nd quarter valued at $6,102,000. Tower Research Capital LLC TRC increased its holdings in AvePoint by 93.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,933 shares of the company's stock valued at $288,000 after acquiring an additional 7,210 shares during the last quarter. Oxford Asset Management LLP bought a new stake in AvePoint in the 2nd quarter valued at $283,000. Finally, Man Group plc bought a new stake in AvePoint in the 2nd quarter valued at $479,000. 44.49% of the stock is currently owned by institutional investors.

AvePoint Company Profile

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.