Analysts Set AvePoint, Inc. (NASDAQ:AVPT) PT at $16.40

Shares of AvePoint, Inc. (NASDAQ:AVPT) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $16.40.

A number of equities research analysts have issued reports on AVPT shares. Scotiabank assumed coverage on AvePoint in a research report on Thursday. They set a “sector outperform” rating and a $19.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Finally, Citigroup cut their target price 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.

Insider Activity at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the transaction, the insider now owns 1,347,145 shares in the company, valued at approximately $20,746,033. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AvePoint

A number of large investors have recently bought and sold shares of AVPT. Vanguard Group Inc. lifted its stake in AvePoint by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company’s stock valued at $252,276,000 after buying an additional 150,885 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of AvePoint by 56.9% in the fourth 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 in the last quarter. Geode Capital Management LLC grew its position in AvePoint by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,850,268 shares of the company’s stock valued at $47,067,000 after buying an additional 20,720 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of AvePoint by 566.0% during the 4th 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 in the last quarter. Finally, Parsifal Capital Management LP acquired a new position in shares of AvePoint during the fourth quarter valued at approximately $36,419,000. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Performance

Shares of NASDAQ 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 firm’s 50 day moving average price is $14.90 and its 200 day moving average price is $16.17. The firm has a market cap of $3.45 billion, a P/E ratio of -341.53 and a beta of 1.20.

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.