AvePoint, Inc. (NASDAQ:AVPT) Receives $17.40 Average PT from Brokerages

Shares of AvePoint, Inc. (NASDAQ:AVPT) have received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.40.

Several brokerages have recently commented on AVPT. 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 research report on Monday, May 12th. Citigroup reduced their price target on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Scotiabank lifted their price target on shares of AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Friday, May 9th. Finally, William Blair reiterated an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th.

Insider Buying and Selling

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of AvePoint stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total transaction of $528,850.00. Following the completion of the transaction, the insider now owns 1,312,145 shares in the company, valued at approximately $19,826,510.95. The trade was a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeff Epstein sold 500,000 shares of the 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 completion of the sale, the director now directly owns 1,157,891 shares of the company’s stock, valued at approximately $21,733,614.07. This trade represents a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 605,000 shares of company stock worth $11,188,550 in the last ninety days. Corporate insiders own 26.19% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Several large investors have recently bought and sold shares of the stock. Parsifal Capital Management LP grew its stake in shares of AvePoint by 130.3% in the 1st quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company’s stock worth $73,366,000 after acquiring an additional 2,874,842 shares in the last quarter. Wellington Management Group LLP boosted its holdings in AvePoint by 56.9% during the fourth quarter. Wellington Management Group LLP now owns 6,430,203 shares of the company’s stock worth $106,163,000 after purchasing an additional 2,332,813 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in AvePoint by 566.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock worth $44,220,000 after purchasing an additional 2,276,258 shares during the last quarter. Jennison Associates LLC purchased a new stake in AvePoint in the 1st quarter valued at about $30,648,000. Finally, Raymond James Financial Inc. purchased a new stake in AvePoint in the 4th quarter valued at about $18,067,000. 44.49% of the stock is currently owned by institutional investors.

AvePoint Stock Performance

Shares of AVPT opened at $19.08 on Friday. AvePoint has a 52-week low of $9.38 and a 52-week high of $20.25. The business’s 50 day moving average price is $17.84 and its two-hundred day moving average price is $17.08. The firm has a market cap of $3.88 billion, a PE ratio of -146.76 and a beta of 1.34.

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.