AvePoint (NASDAQ:AVPT) Stock Price Expected to Rise, Citigroup Analyst Says

AvePoint (NASDAQ:AVPT) had its target price hoisted by Citigroup from $17.00 to $18.00 in a research report released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Separately, The Goldman Sachs Group upped their price target on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

AvePoint Trading Down 2.0 %

AVPT stock opened at $17.21 on Friday. AvePoint has a 12-month low of $7.08 and a 12-month high of $19.16. The firm’s 50-day moving average price is $17.39 and its two-hundred day moving average price is $13.46. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -344.13 and a beta of 1.01.

Insider Activity

In other news, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $346,080.80. Following the sale, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. The trade was a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $15.77, for a total value of $157,700.00. Following the completion of the sale, the insider now owns 18,310,673 shares in the company, valued at $288,759,313.21. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,215 shares of company stock worth $952,581 over the last quarter. Insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE grew its stake in shares of AvePoint by 8.0% in the 3rd quarter. US Bancorp DE now owns 18,706 shares of the company’s stock worth $220,000 after buying an additional 1,391 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in AvePoint by 1.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 121,358 shares of the company’s stock worth $2,004,000 after acquiring an additional 2,112 shares during the last quarter. National Bank of Canada FI bought a new stake in AvePoint during the third quarter worth approximately $29,000. Cerity Partners LLC raised its position in AvePoint by 6.6% during the third quarter. Cerity Partners LLC now owns 41,499 shares of the company’s stock valued at $488,000 after purchasing an additional 2,571 shares during the period. Finally, Creative Planning lifted its stake in shares of AvePoint by 19.1% in the 3rd quarter. Creative Planning now owns 29,345 shares of the company’s stock valued at $345,000 after purchasing an additional 4,698 shares during the last quarter. 44.49% of the stock is currently owned by 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.