AvePoint, Inc. (NASDAQ:AVPT) Receives Average Rating of “Buy” from Analysts

Shares of AvePoint, Inc. (NASDAQ:AVPT) have received a consensus rating of “Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $20.6667.

AVPT has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of AvePoint in a research report on Monday, July 21st. They issued a “buy” rating and a $22.00 price objective for the company. B. Riley started coverage on AvePoint in a report on Tuesday, August 26th. They set a “buy” rating and a $25.00 target price for the company. Citigroup lowered their target price on AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, August 18th. Cantor Fitzgerald upgraded AvePoint to a “strong-buy” rating in a report on Friday, July 25th. Finally, DA Davidson started coverage on AvePoint in a report on Monday, September 22nd. They set a “buy” rating and a $20.00 target price for the company.

AvePoint Stock Up 0.9%

AVPT opened at $15.35 on Friday. AvePoint has a 12 month low of $11.43 and a 12 month high of $20.25. The company has a fifty day simple moving average of $16.38 and a 200 day simple moving average of $16.85. The stock has a market cap of $3.25 billion, a P/E ratio of -306.94 and a beta of 1.40.

Insider Activity

In other AvePoint news, Director John Chi On Ho sold 650,000 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $15.21, for a total transaction of $9,886,500.00. Following the completion of the transaction, the director owned 3,732,679 shares in the company, valued at approximately $56,774,047.59. This represents a 14.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Xunkai Gong sold 2,068,966 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $31,468,972.86. Following the transaction, the chairman owned 15,220,668 shares of the company’s stock, valued at approximately $231,506,360.28. This trade represents a 11.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,608,932 shares of company stock worth $85,456,756. 26.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AvePoint

Several hedge funds have recently modified their holdings of AVPT. Ameriprise Financial Inc. grew its holdings in shares of AvePoint by 282.9% in the 4th quarter. Ameriprise Financial Inc. now owns 45,751 shares of the company’s stock valued at $755,000 after acquiring an additional 33,801 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of AvePoint by 155.5% in the 4th quarter. Two Sigma Investments LP now owns 108,192 shares of the company’s stock valued at $1,786,000 after acquiring an additional 65,852 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of AvePoint by 96.7% in the 4th quarter. Two Sigma Advisers LP now owns 65,700 shares of the company’s stock valued at $1,085,000 after acquiring an additional 32,300 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AvePoint by 13.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,084 shares of the company’s stock valued at $4,344,000 after acquiring an additional 30,399 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in shares of AvePoint in the 1st quarter valued at about $31,000. Institutional investors own 44.49% of the company’s stock.

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.