AvePoint (NASDAQ:AVPT) Research Coverage Started at B. Riley

B. Riley initiated coverage on shares of AvePoint (NASDAQ:AVPT) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $25.00 price objective on the stock.

A number of other analysts have also issued reports on AVPT. 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 decreased their target price on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, August 18th. Cantor Fitzgerald upgraded shares of AvePoint to a “strong-buy” rating in a research report on Friday, July 25th. Scotiabank raised their target price on shares of AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 9th. Finally, Jefferies Financial Group assumed coverage on shares of AvePoint in a research report on Monday, July 21st. They set a “buy” rating and a $22.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.80.

AvePoint Stock Performance

Shares of NASDAQ AVPT opened at $16.10 on Tuesday. AvePoint has a 1 year low of $11.27 and a 1 year high of $20.25. The firm’s 50 day moving average price is $17.56 and its 200 day moving average price is $16.99. The firm has a market cap of $3.41 billion, a P/E ratio of -321.94 and a beta of 1.35.

Insider Activity

In other news, insider Brian Michael Brown sold 35,000 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $15.47, for a total value of $541,450.00. Following the completion of the sale, the insider owned 1,155,443 shares of the company’s stock, valued at approximately $17,874,703.21. The trade was a 2.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeff Epstein sold 500,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the completion of the sale, the director directly owned 1,157,891 shares of the company’s stock, valued at $21,733,614.07. The trade was a 30.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 605,000 shares of company stock valued at $11,220,400 in the last three months. Insiders own 26.19% of the company’s stock.

Institutional Investors Weigh In On AvePoint

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in shares of AvePoint by 5.9% in the 1st quarter. Principal Financial Group Inc. now owns 78,396 shares of the company’s stock worth $1,132,000 after purchasing an additional 4,348 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of AvePoint by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,160,554 shares of the company’s stock valued at $19,161,000 after buying an additional 99,725 shares during the period. Two Sigma Investments LP boosted its holdings in shares of AvePoint by 155.5% in the 4th quarter. Two Sigma Investments LP now owns 108,192 shares of the company’s stock valued at $1,786,000 after buying an additional 65,852 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of AvePoint by 282.9% in the 4th quarter. Ameriprise Financial Inc. now owns 45,751 shares of the company’s stock valued at $755,000 after buying an additional 33,801 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of AvePoint by 70.1% in the 1st quarter. Cerity Partners LLC now owns 70,454 shares of the company’s stock valued at $1,017,000 after buying an additional 29,034 shares during the period. Institutional investors own 44.49% of the company’s stock.

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.