AvePoint (NASDAQ:AVPT) Earns Buy Rating from Analysts at B. Riley

B. Riley assumed coverage on shares of AvePoint (NASDAQ:AVPT) in a research note released on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $25.00 price objective on the stock.

Several other equities research analysts have also weighed in on AVPT. Cantor Fitzgerald raised AvePoint to a “strong-buy” rating in a research report on Friday, July 25th. Scotiabank raised their target price on AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 9th. The Goldman Sachs Group raised their target price on AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Citigroup cut their target price on AvePoint from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, August 18th. Finally, Jefferies Financial Group assumed 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 equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, AvePoint currently has an average rating of “Moderate Buy” and an average price target of $20.80.

AvePoint Price Performance

NASDAQ AVPT opened at $15.80 on Monday. The company has a market cap of $3.35 billion, a P/E ratio of -315.94 and a beta of 1.35. The stock has a 50-day moving average of $17.60 and a two-hundred day moving average of $17.02. AvePoint has a 1-year low of $11.06 and a 1-year high of $20.25.

Insider Buying and Selling

In related news, Director Jeff Epstein sold 500,000 shares of AvePoint stock in a transaction that occurred on Monday, June 2nd. The stock was 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. The trade was a 30.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $15.47, for a total value of $541,450.00. Following the completion of the sale, the insider owned 1,155,443 shares in the company, valued at approximately $17,874,703.21. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 605,000 shares of company stock worth $11,220,400. Corporate insiders own 26.19% of the company’s stock.

Institutional Trading of AvePoint

Institutional investors have recently modified their holdings of the business. Heck Capital Advisors LLC purchased a new stake in shares of AvePoint in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc purchased a new stake in shares of AvePoint in the first quarter valued at approximately $31,000. Advisors Asset Management Inc. boosted its stake in shares of AvePoint by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company’s stock valued at $44,000 after buying an additional 919 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of AvePoint in the fourth quarter valued at approximately $40,000. Finally, Summit Securities Group LLC boosted its position in AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company’s stock worth $38,000 after purchasing an additional 2,263 shares in the last quarter. 44.49% of the stock is currently owned by hedge funds and other 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.