Scotiabank Begins Coverage on AvePoint (NASDAQ:AVPT)

Stock analysts at Scotiabank initiated coverage on shares of AvePoint (NASDAQ:AVPT) 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 price target indicates a potential upside of 11.24% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Citigroup reduced their price target on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. William Blair restated an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, AvePoint currently has a consensus rating of “Moderate Buy” and an average target price of $16.40.

AvePoint Trading Up 2.9 %

Shares of AVPT opened at $17.08 on Thursday. AvePoint has a 1-year low of $8.06 and a 1-year high of $19.90. The stock has a market capitalization of $3.45 billion, a P/E ratio of -341.53 and a beta of 1.20. The business’s 50-day moving average price is $14.90 and its 200 day moving average price is $16.14.

Insiders Place Their Bets

In related news, insider Brian Michael Brown sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total value of $528,850.00. Following the completion of the sale, the insider now owns 1,312,145 shares of the company’s stock, valued at approximately $19,826,510.95. The trade was a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 26.19% of the company’s stock.

Institutional Trading of AvePoint

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of AvePoint by 56.9% during the 4th quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company’s stock worth $106,163,000 after purchasing an additional 2,332,813 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock worth $44,220,000 after buying an additional 2,276,258 shares during the last quarter. Parsifal Capital Management LP bought a new position in AvePoint during the fourth quarter valued at about $36,419,000. Raymond James Financial Inc. bought a new position in AvePoint during the fourth quarter valued at about $18,067,000. Finally, Gotham Asset Management LLC lifted its position in shares of AvePoint by 4,694.5% in the fourth quarter. Gotham Asset Management LLC now owns 840,963 shares of the company’s stock worth $13,884,000 after buying an additional 823,423 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors and hedge funds.

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.