AvePoint (NASDAQ:AVPT) Rating Lowered to “Equal Weight” at Morgan Stanley

AvePoint (NASDAQ:AVPT) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports.

A number of other equities analysts also recently issued reports on the company. Scotiabank raised their price objective on AvePoint from $15.00 to $20.00 and gave the stock a “sector outperform” rating in a research report on Friday. Jefferies Financial Group increased their price objective on shares of AvePoint from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Sunday, October 25th. TD Cowen lifted their target price on shares of AvePoint from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. Citigroup boosted their target price on shares of AvePoint from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Monday. Finally, Stephens upped their price target on shares of AvePoint from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.00.

AvePoint Price Performance

NASDAQ AVPT traded down $0.41 on Tuesday, reaching $16.39. The company had a trading volume of 1,305,966 shares, compared to its average volume of 2,263,909. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 48.30 and a beta of 1.13. AvePoint has a fifty-two week low of $8.84 and a fifty-two week high of $17.52. The business has a 50 day moving average of $14.60 and a two-hundred day moving average of $12.02.

AvePoint (NASDAQ:AVPT) last announced its earnings results on Thursday, November 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). AvePoint had a return on equity of 15.97% and a net margin of 15.33%. The company had revenue of $131.10 million for the quarter, compared to analyst estimates of $129.39 million. As a group, research analysts predict that AvePoint will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at AvePoint

In other AvePoint news, insider Brian Brown sold 72,606 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $15.26, for a total transaction of $1,107,967.56. Following the transaction, the insider directly owned 259,604 shares in the company, valued at approximately $3,961,557.04. This represents a 21.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 230,000 shares of company stock valued at $3,430,412 over the last quarter. 22.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in AvePoint by 933.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock valued at $28,000 after purchasing an additional 2,689 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of AvePoint by 26.6% during the second quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock valued at $43,000 after purchasing an additional 802 shares during the period. Allworth Financial LP raised its holdings in shares of AvePoint by 109.6% during the second quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock valued at $57,000 after purchasing an additional 2,649 shares during the period. Sterling Capital Management LLC boosted its position in shares of AvePoint by 822.1% during the 3rd quarter. Sterling Capital Management LLC now owns 5,496 shares of the company’s stock worth $77,000 after purchasing an additional 4,900 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of AvePoint by 21.2% during the 3rd quarter. Signaturefd LLC now owns 5,739 shares of the company’s stock worth $81,000 after purchasing an additional 1,005 shares in the last quarter. 44.49% of the stock is owned by institutional investors.

About AvePoint

AvePoint provides cloud-based software for managing, protecting and governing data in cloud collaboration environments. Its products help organizations back up and restore data, manage access and compliance policies, and migrate content between platforms. The company’s offerings support services including Microsoft 365, Salesforce and Google Workspace. AvePoint also provides tools for data governance, records management and collaboration, serving organizations across a range of industries and geographies.