Weiss Ratings Reiterates Sell (D-) Rating for AvePoint (NASDAQ:AVPT)

Key Points

• Weiss Ratings has reiterated a "sell (D-)" rating for AvePoint (NASDAQ:AVPT), suggesting ongoing concerns about the company's stock performance.
• AvePoint currently holds a **consensus rating of "Moderate Buy"** and a target price of $20.33, amidst mixed opinions from analysts including some with "buy" and "strong buy" ratings.
• Recent insider sales included a director selling 650,000 shares and the CFO selling 216,000 shares, indicating notable declines in their holdings and raising questions about insider confidence.

AvePoint (NASDAQ:AVPT - Get Free Report)'s stock had its "sell (d-)" rating reiterated by research analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Several other equities research analysts have also recently weighed in on AVPT. Jefferies Financial Group began coverage on shares of AvePoint in a research report on Monday, July 21st. They set a "buy" rating and a $22.00 price objective for the company. Morgan Stanley set a $18.30 price objective on shares of AvePoint in a research report on Monday. Dbs Bank raised shares of AvePoint to a "moderate buy" rating in a research report on Monday, October 6th. Cantor Fitzgerald raised shares of AvePoint to a "strong-buy" rating in a report on Friday, July 25th. Finally, B. Riley initiated coverage on shares of AvePoint in a report on Tuesday, August 26th. They issued a "buy" rating and a $25.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, AvePoint presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.33.

AvePoint Price Performance

AVPT traded up $0.01 on Friday, hitting $14.88. 722,535 shares of the stock were exchanged, compared to its average volume of 1,320,018. AvePoint has a 12 month low of $11.89 and a 12 month high of $20.25. The business has a 50-day moving average of $15.35 and a two-hundred day moving average of $16.85. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of -297.54 and a beta of 1.41.

Insider Buying and Selling

In other AvePoint news, Director John Chi On Ho sold 650,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $9,886,500.00. Following the completion of the sale, the director owned 3,732,679 shares of the company's stock, valued at approximately $56,774,047.59. This represents a 14.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James Caci sold 216,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $3,285,360.00. Following the sale, the chief financial officer directly owned 213,030 shares of the company's stock, valued at $3,240,186.30. This represents a 50.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,693,932 shares of company stock valued at $86,624,872 over the last three months. Insiders own 26.19% of the company's stock.

Institutional Trading of AvePoint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp increased 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 period. ProShare Advisors LLC increased its position in AvePoint by 1.7% during the 2nd quarter. ProShare Advisors LLC now owns 37,656 shares of the company's stock valued at $727,000 after purchasing an additional 638 shares during the period. State of Wyoming increased its position in AvePoint by 3.0% during the 1st quarter. State of Wyoming now owns 27,128 shares of the company's stock valued at $392,000 after purchasing an additional 780 shares during the period. Advisors Asset Management Inc. increased its position in 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 purchasing an additional 919 shares during the period. Finally, Sheaff Brock Investment Advisors LLC increased its position in AvePoint by 4.9% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 23,961 shares of the company's stock valued at $346,000 after purchasing an additional 1,117 shares during the period. Institutional investors and hedge funds own 44.49% of the company's stock.

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.

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