AvePoint (NASDAQ:AVPT) Now Covered by Scotiabank

Equities researchers at Scotiabank initiated coverage on shares of AvePoint (NASDAQ:AVPT - Get Free Report) in a research report issued on Thursday, MarketBeat reports. The brokerage set a "sector outperform" rating and a $19.00 price target on the stock. Scotiabank's price target would indicate a potential upside of 11.24% from the company's previous close.

AVPT has been the topic of several other reports. William Blair reissued an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Citigroup lowered their price objective on AvePoint from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.40.

AvePoint Stock Performance

Shares of NASDAQ:AVPT traded up $0.48 during midday trading on Thursday, hitting $17.08. 765,881 shares of the stock were exchanged, compared to its average volume of 1,222,036. The company has a market capitalization of $3.45 billion, a PE ratio of -341.53 and a beta of 1.20. AvePoint has a 52-week low of $8.06 and a 52-week high of $19.90. The business's fifty day simple moving average is $14.90 and its two-hundred day simple moving average is $16.17.

Insider Buying and Selling at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total value of $528,850.00. Following the transaction, the insider now directly owns 1,312,145 shares of the company's stock, valued at approximately $19,826,510.95. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 26.19% of the company's stock.

Institutional Trading of AvePoint

A number of large investors have recently made changes to their positions in AVPT. Global Retirement Partners LLC acquired a new position in AvePoint in the fourth quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new position in shares of AvePoint in the 4th quarter valued at approximately $29,000. Versant Capital Management Inc acquired a new position in shares of AvePoint in the 1st quarter valued at approximately $31,000. Point72 Hong Kong Ltd bought a new stake in AvePoint during the 4th quarter worth approximately $40,000. Finally, R Squared Ltd acquired a new stake in AvePoint during the 4th quarter worth approximately $45,000. 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.