AvePoint, Inc. (NASDAQ:AVPT) Given Consensus Rating of “Buy” by Analysts

AvePoint, Inc. (NASDAQ:AVPT) has been given an average recommendation of “Buy” by the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $20.6667.

Several research analysts have recently weighed in on AVPT shares. Citigroup decreased their price objective on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, August 18th. B. Riley started coverage on shares of AvePoint in a report on Tuesday, August 26th. They set a “buy” rating and a $25.00 price objective for the company. Cantor Fitzgerald raised shares of AvePoint to a “strong-buy” rating in a report on Friday, July 25th. Jefferies Financial Group started coverage on shares of AvePoint in a report on Monday, July 21st. They set a “buy” rating and a $22.00 price objective for the company. Finally, DA Davidson started coverage on shares of AvePoint in a report on Monday, September 22nd. They set a “buy” rating and a $20.00 price objective for the company.

Insider Transactions at AvePoint

In other news, CFO James Caci sold 216,000 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total value of $3,285,360.00. Following the completion of the sale, the chief financial officer directly owned 213,030 shares of the company’s stock, valued at $3,240,186.30. This represents a 50.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Chi On Ho sold 650,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $9,886,500.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,668,932 shares of company stock valued at $86,363,131. Company insiders own 26.19% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Several institutional investors have recently bought and sold shares of AVPT. Versant Capital Management Inc bought a new stake in shares of AvePoint in the 1st quarter worth about $31,000. Advisors Asset Management Inc. lifted its holdings in shares of AvePoint by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company’s stock worth $44,000 after acquiring an additional 919 shares during the last quarter. Summit Securities Group LLC lifted its holdings in shares of AvePoint by 621.7% in the 1st quarter. Summit Securities Group LLC now owns 2,627 shares of the company’s stock worth $38,000 after acquiring an additional 2,263 shares during the last quarter. Quarry LP lifted its holdings in shares of AvePoint by 2,028.3% in the 1st quarter. Quarry LP now owns 3,831 shares of the company’s stock worth $55,000 after acquiring an additional 3,651 shares during the last quarter. Finally, KBC Group NV bought a new stake in AvePoint during the 1st quarter valued at about $67,000. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Up 1.0%

AVPT opened at $14.86 on Friday. The firm has a 50 day moving average price of $16.07 and a 200-day moving average price of $16.85. AvePoint has a twelve month low of $11.43 and a twelve month high of $20.25. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -297.14 and a beta of 1.41.

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.