Scotiabank Initiates Coverage on AvePoint (NASDAQ:AVPT)

Scotiabank initiated coverage on shares of AvePoint (NASDAQ:AVPT - Get Free Report) in a research note issued on Thursday, MarketBeat reports. The firm set a "sector outperform" rating and a $19.00 price target on the stock. Scotiabank's target price would indicate a potential upside of 11.67% from the company's current price.

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

AvePoint Stock Down 0.1 %

Shares of NASDAQ:AVPT traded down $0.03 during midday trading on Thursday, reaching $17.02. The company had a trading volume of 437,875 shares, compared to its average volume of 1,217,574. The stock has a market cap of $3.43 billion, a PE ratio of -339.53 and a beta of 1.30. AvePoint has a 1-year low of $8.06 and a 1-year high of $19.90. The business's 50 day moving average price is $14.89 and its 200 day moving average price is $16.23.

Insider Activity

In related news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $15.11, for a total transaction of $528,850.00. Following the transaction, the insider now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 26.19% of the company's stock.

Hedge Funds Weigh In On AvePoint

A number of large investors have recently bought and sold shares of AVPT. M&T Bank Corp raised its position in AvePoint by 3.0% during the 1st quarter. M&T Bank Corp now owns 22,058 shares of the company's stock valued at $319,000 after purchasing an additional 634 shares during the last quarter. SG Americas Securities LLC lifted its position in AvePoint by 3.1% during the 1st quarter. SG Americas Securities LLC now owns 30,982 shares of the company's stock valued at $447,000 after acquiring an additional 922 shares during the period. Pacer Advisors Inc. boosted its stake in AvePoint by 29.7% during the fourth quarter. Pacer Advisors Inc. now owns 4,409 shares of the company's stock worth $73,000 after acquiring an additional 1,010 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in AvePoint by 8.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company's stock worth $222,000 after purchasing an additional 1,042 shares during the period. Finally, Moran Wealth Management LLC increased its stake in shares of AvePoint by 2.2% during the fourth quarter. Moran Wealth Management LLC now owns 49,571 shares of the company's stock valued at $818,000 after purchasing an additional 1,083 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

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.