AvePoint (NASDAQ:AVPT) Trading Down 4.9% – Here’s Why

AvePoint, Inc. (NASDAQ:AVPT) traded down 4.9% during trading on Tuesday . The company traded as low as $18.46 and last traded at $18.56. 312,874 shares were traded during trading, a decline of 75% from the average session volume of 1,253,323 shares. The stock had previously closed at $19.51.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AVPT shares. The Goldman Sachs Group raised their target price on shares of AvePoint from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Citigroup lowered their price objective on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Scotiabank upped their price objective on AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a report on Friday, May 9th. Finally, William Blair reiterated an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.40.

AvePoint Price Performance

The firm’s 50-day moving average price is $16.85 and its 200-day moving average price is $17.03. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -378.22 and a beta of 1.34.

Insiders Place Their Bets

In other news, Director Jeff Epstein sold 500,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $18.19, for a total transaction of $636,650.00. Following the sale, the insider now directly owns 1,277,145 shares in the company, valued at $23,231,267.55. This trade represents a 2.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 605,000 shares of company stock worth $11,089,500 over the last quarter. 26.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AvePoint

Institutional investors and hedge funds have recently made changes to their positions in the business. M&T Bank Corp raised its holdings in AvePoint by 3.0% in the first quarter. M&T Bank Corp now owns 22,058 shares of the company’s stock valued at $319,000 after acquiring an additional 634 shares in the last quarter. State of Wyoming lifted its position in shares of AvePoint by 3.0% during the first quarter. State of Wyoming now owns 27,128 shares of the company’s stock worth $392,000 after purchasing an additional 780 shares during the last quarter. SG Americas Securities LLC grew its stake in AvePoint by 3.1% in the first quarter. SG Americas Securities LLC now owns 30,982 shares of the company’s stock worth $447,000 after purchasing an additional 922 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in AvePoint by 8.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company’s stock valued at $222,000 after buying an additional 1,042 shares during the last quarter. Finally, Moran Wealth Management LLC raised its position in shares of AvePoint by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 49,571 shares of the company’s stock valued at $818,000 after acquiring an additional 1,083 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.