AvePoint (NASDAQ:AVPT) Coverage Initiated at B. Riley

Analysts at B. Riley assumed coverage on shares of AvePoint (NASDAQ:AVPT) in a note issued to investors on Monday, MarketBeat reports. The brokerage set a “buy” rating on the stock.

Several other brokerages also recently weighed in on AVPT. Scotiabank boosted their price objective on AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Friday, May 9th. Jefferies Financial Group started coverage on AvePoint in a report on Monday, July 21st. They set a “buy” rating and a $22.00 target price for the company. The Goldman Sachs Group upped their target price on AvePoint from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Monday, May 12th. Cantor Fitzgerald upgraded AvePoint to a “strong-buy” rating in a report on Friday, July 25th. Finally, Citigroup decreased 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. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $20.80.

AvePoint Stock Performance

Shares of AVPT stock opened at $15.36 on Monday. AvePoint has a fifty-two week low of $10.65 and a fifty-two week high of $20.25. The stock has a 50 day moving average price of $17.66 and a two-hundred day moving average price of $17.02. The company has a market capitalization of $3.26 billion, a P/E ratio of -307.14 and a beta of 1.35.

Insider Buying and Selling at AvePoint

In related news, insider Brian Michael Brown sold 35,000 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total value of $655,900.00. Following the sale, the insider directly owned 1,190,443 shares of the company’s stock, valued at $22,308,901.82. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeff Epstein sold 500,000 shares of the company’s stock in a transaction 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 directly owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 570,000 shares of company stock worth $10,678,950. 26.19% of the stock is owned by insiders.

Institutional Investors Weigh In On AvePoint

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caxton Associates LLP grew its stake in AvePoint by 108.8% in the second quarter. Caxton Associates LLP now owns 50,778 shares of the company’s stock worth $981,000 after purchasing an additional 26,455 shares during the period. Castleark Management LLC purchased a new stake in AvePoint in the second quarter worth $6,102,000. Tower Research Capital LLC TRC grew its stake in AvePoint by 93.4% in the second quarter. Tower Research Capital LLC TRC now owns 14,933 shares of the company’s stock worth $288,000 after purchasing an additional 7,210 shares during the period. Oxford Asset Management LLP purchased a new stake in AvePoint in the second quarter worth $283,000. Finally, Man Group plc purchased a new stake in AvePoint in the second quarter worth $479,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

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.