AvePoint (NASDAQ:AVPT) Shares Gap Down After Analyst Downgrade

AvePoint, Inc. (NASDAQ:AVPTGet Rating)’s share price gapped down before the market opened on Thursday after Evercore ISI lowered their price target on the stock to $5.00. The stock had previously closed at $5.06, but opened at $4.85. AvePoint shares last traded at $4.95, with a volume of 2,440 shares traded.

Separately, Citigroup lifted their price objective on shares of AvePoint from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Tuesday.

Institutional Trading of AvePoint

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in AvePoint by 227.8% during the 1st quarter. Vanguard Group Inc. now owns 10,390,928 shares of the company’s stock worth $54,656,000 after acquiring an additional 7,220,811 shares during the last quarter. State Street Corp boosted its holdings in AvePoint by 243.5% during the 2nd quarter. State Street Corp now owns 2,143,383 shares of the company’s stock worth $9,302,000 after acquiring an additional 1,519,449 shares during the last quarter. Northern Trust Corp boosted its holdings in AvePoint by 481.4% during the 2nd quarter. Northern Trust Corp now owns 1,091,852 shares of the company’s stock worth $4,739,000 after acquiring an additional 904,054 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of AvePoint by 303.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 880,353 shares of the company’s stock worth $3,821,000 after buying an additional 662,087 shares during the last quarter. Finally, EVR Research LP purchased a new position in shares of AvePoint in the 1st quarter worth about $2,909,000. Institutional investors and hedge funds own 41.99% of the company’s stock.

AvePoint Trading Down 6.1 %

The stock’s fifty day moving average is $4.11 and its two-hundred day moving average is $4.68. The company has a market capitalization of $868.35 million, a PE ratio of -24.95 and a beta of 1.02.

AvePoint Company Profile

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AvePoint, Inc provides Microsoft 365 data management solutions worldwide. It offers SaaS platform cloud-hosted collaboration systems by providing suite of software products. The company focuses on data protection, governance, compliance management extensions for Microsoft 365, Dynamics 365, Salesforce, and Google Workspace.

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