Cantor Fitzgerald Upgrades AvePoint (NASDAQ:AVPT) to Strong-Buy

AvePoint (NASDAQ:AVPT) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

Several other equities analysts have also weighed in on AVPT. Jefferies Financial Group initiated coverage on AvePoint in a report on Monday, July 21st. They set a “buy” rating and a $22.00 target price on the stock. Scotiabank raised their price target on AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group raised their price target on AvePoint from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AvePoint has an average rating of “Moderate Buy” and a consensus target price of $18.17.

AvePoint Price Performance

NASDAQ AVPT opened at $18.56 on Friday. AvePoint has a fifty-two week low of $9.38 and a fifty-two week high of $20.25. The stock’s 50-day moving average is $18.73 and its two-hundred day moving average is $17.27. The firm has a market cap of $3.77 billion, a P/E ratio of -142.76 and a beta of 1.33.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total value of $655,900.00. Following the sale, the insider directly owned 1,190,443 shares of the company’s stock, valued at approximately $22,308,901.82. This trade represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeff Epstein sold 500,000 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $18.77, for a total value of $9,385,000.00. Following the completion of the sale, the director directly owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. This represents a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 605,000 shares of company stock worth $11,315,600. 26.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AvePoint

A number of institutional investors have recently added to or reduced their stakes in AVPT. Virtu Financial LLC acquired a new stake in AvePoint during the fourth quarter worth about $209,000. American Century Companies Inc. acquired a new stake in AvePoint during the fourth quarter worth about $578,000. KLP Kapitalforvaltning AS acquired a new stake in AvePoint during the fourth quarter worth about $371,000. LPL Financial LLC grew its position in AvePoint by 21.3% during the fourth quarter. LPL Financial LLC now owns 12,777 shares of the company’s stock worth $211,000 after buying an additional 2,242 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in AvePoint by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 15,280,202 shares of the company’s stock worth $252,276,000 after buying an additional 150,885 shares in the last quarter. 44.49% of the stock is owned by institutional investors and hedge funds.

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.