Cetera Investment Advisers Buys New Shares in AvePoint, Inc. $AVPT

Key Points

• Cetera Investment Advisers invested approximately $556,000 in AvePoint, acquiring 38,507 shares in the 1st quarter of the year.
• Analysts have recently set a consensus price target of $19.25 for AvePoint, with ratings ranging from "hold" to "strong buy."
• AvePoint's stock has experienced significant insider transactions, including a sale of 500,000 shares by a director, highlighting active management changes within the company.

Cetera Investment Advisers purchased a new position in shares of AvePoint, Inc. (NASDAQ:AVPT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 38,507 shares of the company's stock, valued at approximately $556,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of AvePoint by 5.9% in the first quarter. Principal Financial Group Inc. now owns 78,396 shares of the company's stock valued at $1,132,000 after buying an additional 4,348 shares in the last quarter. Northern Trust Corp raised its position 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 valued at $19,161,000 after buying an additional 99,725 shares in the last quarter. Two Sigma Investments LP raised its position 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 valued at $1,786,000 after buying an additional 65,852 shares in the last quarter. Summit Investment Advisors Inc. raised its position 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 valued at $222,000 after buying an additional 1,042 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of AvePoint by 282.9% in the fourth quarter. Ameriprise Financial Inc. now owns 45,751 shares of the company's stock valued at $755,000 after buying an additional 33,801 shares in the last quarter. Institutional investors own 44.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AVPT shares. Scotiabank lifted their price target 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. Citigroup decreased their price objective on shares of AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a research note on Friday, July 25th. The Goldman Sachs Group lifted their price objective on shares of AvePoint from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Finally, Jefferies Financial Group started coverage on shares of AvePoint in a research note on Monday, July 21st. They issued a "buy" rating and a $22.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $19.75.

AvePoint Stock Down 0.7%

Shares of NASDAQ AVPT traded down $0.1050 during midday trading on Wednesday, reaching $14.7950. 349,079 shares of the company were exchanged, compared to its average volume of 1,354,950. The stock's 50-day moving average price is $18.02 and its 200-day moving average price is $17.16. The stock has a market cap of $3.14 billion, a P/E ratio of -295.38 and a beta of 1.35. AvePoint, Inc. has a one year low of $10.65 and a one year high of $20.25.

Insider Buying and Selling at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.74, for a total value of $655,900.00. Following the sale, the insider owned 1,190,443 shares of the company's stock, valued at $22,308,901.82. The trade was a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeff Epstein sold 500,000 shares of the business's 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 sale, the director directly owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. This represents a 30.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 605,000 shares of company stock worth $11,315,600. 26.19% of the stock is currently owned by insiders.

AvePoint 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.