AvePoint (NASDAQ:AVPT) Price Target Raised to $15.00

AvePoint (NASDAQ:AVPT) had its price objective upped by The Goldman Sachs Group from $7.50 to $15.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages also recently commented on AVPT. Cantor Fitzgerald upped their price target on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Northland Securities increased their target price on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AvePoint presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.20.

AvePoint Stock Down 1.3 %

AVPT opened at $15.82 on Tuesday. The firm has a market cap of $2.95 billion, a PE ratio of -316.34 and a beta of 0.88. The business has a fifty day simple moving average of $12.40 and a 200-day simple moving average of $10.76. AvePoint has a fifty-two week low of $7.08 and a fifty-two week high of $16.50.

Insider Activity at AvePoint

In related news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $10.77, for a total value of $107,700.00. Following the sale, the insider now owns 18,460,673 shares of the company’s stock, valued at $198,821,448.21. The trade was a 0.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Caci sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total transaction of $327,300.00. Following the completion of the sale, the chief financial officer now owns 630,084 shares in the company, valued at $6,874,216.44. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,000 shares of company stock worth $1,724,500 over the last three months. Company insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Large investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new stake in shares of AvePoint during the second quarter worth $83,000. Balboa Wealth Partners acquired a new position in AvePoint during the 3rd quarter valued at about $125,000. Algert Global LLC acquired a new position in AvePoint in the second quarter valued at approximately $116,000. Bayesian Capital Management LP bought a new position in shares of AvePoint in the 1st quarter worth $130,000. Finally, nVerses Capital LLC bought a new position in AvePoint during the second quarter worth about $173,000. 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.