AvePoint (NASDAQ:AVPT) Price Target Cut to $18.00 by Analysts at Citigroup

AvePoint (NASDAQ:AVPT) had its price objective decreased by Citigroup from $19.00 to $18.00 in a research note released on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group initiated coverage on shares of AvePoint in a report on Monday, July 21st. They set a “buy” rating and a $22.00 price target for the company. The Goldman Sachs Group raised their price objective on shares of AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, May 12th. Cantor Fitzgerald raised shares of AvePoint to a “strong-buy” rating in a report on Friday, July 25th. Finally, Scotiabank raised their price target on shares of AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AvePoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

AvePoint Trading Up 1.2%

AVPT opened at $15.21 on Monday. The company has a fifty day simple moving average of $18.10 and a 200 day simple moving average of $17.18. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of -304.14 and a beta of 1.35. AvePoint has a twelve month low of $10.65 and a twelve month high of $20.25.

Insider Transactions at AvePoint

In related news, Director Jeff Epstein sold 500,000 shares of AvePoint 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 sale, the director directly owned 1,157,891 shares in the company, valued at $21,733,614.07. This trade represents a 30.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.74, for a total transaction of $655,900.00. Following the completion of the sale, the insider owned 1,190,443 shares in the company, valued at approximately $22,308,901.82. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 605,000 shares of company stock worth $11,315,600. Insiders own 26.19% of the company’s stock.

Institutional Trading of AvePoint

Several hedge funds have recently bought and sold shares of AVPT. Heck Capital Advisors LLC bought a new stake in AvePoint in the 4th quarter valued at about $29,000. Versant Capital Management Inc bought a new stake in AvePoint in the 1st quarter valued at about $31,000. Summit Securities Group LLC lifted its position in AvePoint by 621.7% in the 1st quarter. Summit Securities Group LLC now owns 2,627 shares of the company’s stock valued at $38,000 after purchasing an additional 2,263 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in AvePoint in the 4th quarter valued at about $40,000. Finally, Advisors Asset Management Inc. lifted its position in AvePoint by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company’s stock valued at $44,000 after purchasing an additional 919 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors.

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.