AvePoint (NASDAQ:AVPT) Coverage Initiated by Analysts at B. Riley

B. Riley assumed coverage on shares of AvePoint (NASDAQ:AVPT) in a report published on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $25.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Citigroup reduced their price target on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, August 18th. Scotiabank lifted their price objective on shares of AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a report on Friday, May 9th. Cantor Fitzgerald raised shares of AvePoint to a “strong-buy” rating in a research note on Friday, July 25th. The Goldman Sachs Group upped their target price on AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, May 12th. Finally, Jefferies Financial Group initiated coverage on AvePoint in a research report on Monday, July 21st. They set a “buy” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.80.

AvePoint Price Performance

NASDAQ:AVPT opened at $15.36 on Tuesday. AvePoint has a 1-year low of $10.65 and a 1-year high of $20.25. The company has a 50-day moving average of $17.66 and a 200 day moving average of $17.02. The firm has a market cap of $3.26 billion, a PE ratio of -307.14 and a beta of 1.35.

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.74, for a total value of $655,900.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeff Epstein sold 500,000 shares of AvePoint stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the sale, the director owned 1,157,891 shares of the company’s stock, valued at $21,733,614.07. The trade was a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 570,000 shares of company stock valued at $10,678,950. 26.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AvePoint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of AvePoint by 218.0% in the second quarter. Invesco Ltd. now owns 5,335,882 shares of the company’s stock valued at $103,036,000 after purchasing an additional 3,657,692 shares during the period. Parsifal Capital Management LP boosted its position in AvePoint by 130.3% in the first quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company’s stock valued at $73,366,000 after buying an additional 2,874,842 shares during the last quarter. Jennison Associates LLC acquired a new position in AvePoint in the 1st quarter worth approximately $30,648,000. Millennium Management LLC increased its holdings in AvePoint by 104.3% in the 1st quarter. Millennium Management LLC now owns 2,058,092 shares of the company’s stock worth $29,719,000 after buying an additional 1,050,500 shares during the period. Finally, Nuveen LLC purchased a new position in AvePoint during the 1st quarter worth approximately $14,907,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

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.