AvePoint (NASDAQ:AVPT) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of AvePoint (NASDAQ:AVPT) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Several other equities research analysts also recently weighed in on AVPT. Citigroup lowered their target price on shares of AvePoint from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, August 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AvePoint in a report on Wednesday, October 8th. DA Davidson initiated coverage on shares of AvePoint in a report on Monday, September 22nd. They issued a “buy” rating and a $20.00 price target for the company. Cantor Fitzgerald raised shares of AvePoint to a “strong-buy” rating in a report on Friday, July 25th. Finally, Dbs Bank raised shares of AvePoint to a “moderate buy” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.91.

AvePoint Stock Down 0.1%

Shares of AVPT opened at $14.06 on Friday. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -281.14 and a beta of 1.40. AvePoint has a twelve month low of $12.20 and a twelve month high of $20.25. The company has a 50 day moving average of $15.24 and a two-hundred day moving average of $16.90.

Insider Buying and Selling

In related news, Chairman Xunkai Gong sold 2,068,966 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $31,468,972.86. Following the transaction, the chairman directly owned 15,220,668 shares in the company, valued at approximately $231,506,360.28. The trade was a 11.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tianyi Jiang sold 2,068,966 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $15.21, for a total transaction of $31,468,972.86. Following the transaction, the chief executive officer owned 13,841,853 shares in the company, valued at $210,534,584.13. The trade was a 13.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,695,780 shares of company stock valued at $86,652,648 in the last ninety days. Company insiders own 26.19% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of AvePoint in the 3rd quarter worth approximately $26,000. 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. 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. 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 acquired a new position in shares of AvePoint in the 1st quarter worth approximately $67,000. 44.49% of the stock is currently owned by institutional investors and hedge funds.

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.