AvePoint, Inc. (NASDAQ:AVPT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of AvePoint, Inc. (NASDAQ:AVPT) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $17.40.

Several brokerages have recently issued reports on AVPT. Citigroup reduced their price target on AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Scotiabank lifted their target price on shares of AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Friday, May 9th. William Blair reissued an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group increased their price target on shares of AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Monday, May 12th.

Insider Activity at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the business’s 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 completion of the transaction, the insider now owns 1,312,145 shares of the company’s stock, valued at $19,826,510.95. The trade was a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Epstein sold 500,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the sale, the director now owns 1,157,891 shares of the company’s stock, valued at $21,733,614.07. This trade represents a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 605,000 shares of company stock valued at $11,089,500. Corporate insiders own 26.19% of the company’s stock.

Hedge Funds Weigh In On AvePoint

A number of institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new stake in AvePoint in the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in shares of AvePoint in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc acquired a new stake in shares of AvePoint in the first quarter worth $31,000. Summit Securities Group LLC grew its stake in shares of AvePoint by 621.7% in the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company’s stock worth $38,000 after acquiring an additional 2,263 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in AvePoint during the fourth quarter worth $40,000. 44.49% of the stock is currently owned by institutional investors.

AvePoint Trading Down 3.0%

Shares of NASDAQ:AVPT opened at $18.42 on Friday. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -141.68 and a beta of 1.34. AvePoint has a 1 year low of $9.38 and a 1 year high of $20.25. The business has a fifty day simple moving average of $17.61 and a 200 day simple moving average of $17.09.

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.