AvePoint (NASDAQ:AVPT) Trading Down 4.9% – Here’s Why

AvePoint, Inc. (NASDAQ:AVPT)’s stock price fell 4.9% during trading on Tuesday . The stock traded as low as $18.46 and last traded at $18.56. 312,874 shares traded hands during trading, a decline of 75% from the average session volume of 1,253,323 shares. The stock had previously closed at $19.51.

Wall Street Analyst Weigh In

AVPT has been the topic of a number of research reports. Citigroup dropped their price target on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. The Goldman Sachs Group raised their target price on AvePoint from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Monday, May 12th. William Blair restated an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Finally, Scotiabank lifted their price objective on shares of AvePoint from $19.00 to $22.00 and gave the company a “sector outperform” rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.40.

AvePoint Price Performance

The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -378.22 and a beta of 1.34. The business has a fifty day moving average price of $16.85 and a 200 day moving average price of $17.03.

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total value of $528,850.00. Following the sale, the insider now owns 1,312,145 shares of the company’s stock, valued at approximately $19,826,510.95. The trade was a 2.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff Epstein sold 500,000 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $18.77, for a total value of $9,385,000.00. Following the completion of the sale, the director now owns 1,157,891 shares of the company’s stock, valued at approximately $21,733,614.07. This trade represents a 30.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 605,000 shares of company stock valued at $11,089,500. Company insiders own 26.19% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Several large investors have recently made changes to their positions in AVPT. Global Retirement Partners LLC bought a new stake in shares of AvePoint in the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC acquired a new position in AvePoint in the fourth quarter worth approximately $29,000. Versant Capital Management Inc bought a new position in shares of AvePoint in the first quarter valued at $31,000. Summit Securities Group LLC lifted its position in shares of AvePoint by 621.7% during the 1st quarter. Summit Securities Group LLC now owns 2,627 shares of the company’s stock valued at $38,000 after acquiring an additional 2,263 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of AvePoint during the 4th quarter valued at $40,000. Institutional investors own 44.49% of the company’s stock.

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.