AvePoint (NASDAQ:AVPT) Upgraded to “Hold” at Baird R W

Baird R W upgraded shares of AvePoint (NASDAQ:AVPT) to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on AVPT. Morgan Stanley set a $18.30 target price on shares of AvePoint in a report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of AvePoint in a report on Wednesday, October 8th. Dbs Bank upgraded AvePoint to a “moderate buy” rating in a research note on Monday, October 6th. Robert W. Baird assumed coverage on AvePoint in a report on Monday. They issued a “neutral” rating and a $17.00 target price for the company. Finally, DA Davidson began coverage on AvePoint in a research note on Monday, September 22nd. They issued a “buy” rating and a $20.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.91.

AvePoint Price Performance

Shares of NASDAQ:AVPT opened at $14.72 on Monday. The business has a fifty day moving average price of $15.34 and a 200-day moving average price of $16.90. The company has a market capitalization of $3.12 billion, a PE ratio of -294.34 and a beta of 1.41. AvePoint has a 1-year low of $11.92 and a 1-year high of $20.25.

Insider Activity

In other news, insider Brian Michael Brown sold 500,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $7,605,000.00. Following the transaction, the insider directly owned 640,288 shares in the company, valued at $9,738,780.48. This trade represents a 43.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Chi On Ho sold 650,000 shares of AvePoint stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $9,886,500.00. Following the completion of the sale, the director directly owned 3,732,679 shares of the company’s stock, valued at $56,774,047.59. The trade was a 14.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,693,932 shares of company stock worth $86,624,872. Insiders own 26.19% of the company’s stock.

Institutional Investors Weigh In On AvePoint

Several hedge funds and other institutional investors have recently made changes to their positions in AVPT. Invesco Ltd. increased its stake in shares of AvePoint by 218.0% in the 2nd quarter. Invesco Ltd. now owns 5,335,882 shares of the company’s stock worth $103,036,000 after purchasing an additional 3,657,692 shares in the last quarter. Parsifal Capital Management LP grew its holdings in AvePoint by 130.3% during the first quarter. Parsifal Capital Management LP now owns 5,080,742 shares of the company’s stock valued at $73,366,000 after purchasing an additional 2,874,842 shares during the period. Jennison Associates LLC bought a new stake in AvePoint during the first quarter valued at about $30,648,000. Millennium Management LLC increased its position in AvePoint by 104.3% in the first 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 in the last quarter. Finally, Nuveen LLC bought a new position in shares of AvePoint in the first quarter worth about $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.