AvePoint (NASDAQ:AVPT) Research Coverage Started at Robert W. Baird

Robert W. Baird assumed coverage on shares of AvePoint (NASDAQ:AVPT) in a research note published on Monday, Marketbeat Ratings reports. The firm issued a neutral rating and a $17.00 price objective on the stock.

AVPT has been the topic of several other reports. Dbs Bank upgraded shares of AvePoint to a “moderate buy” rating in a report on Monday, October 6th. Morgan Stanley set a $18.30 price objective on shares of AvePoint in a research report on Monday, October 20th. Cantor Fitzgerald upgraded AvePoint to a “strong-buy” rating in a report on Friday, July 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of AvePoint in a research note on Wednesday, October 8th. Finally, B. Riley began coverage on AvePoint in a research report on Tuesday, August 26th. They set a “buy” rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.91.

AvePoint Trading Down 4.5%

AvePoint stock opened at $13.87 on Monday. The firm has a market capitalization of $2.94 billion, a P/E ratio of -277.34 and a beta of 1.41. AvePoint has a 1 year low of $12.08 and a 1 year high of $20.25. The business has a 50-day moving average of $15.31 and a 200-day moving average of $16.90.

Insiders Place Their Bets

In other news, Chairman Xunkai Gong sold 4,167 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $15.08, for a total value of $62,838.36. Following the completion of the transaction, the chairman owned 15,100,668 shares in the company, valued at $227,718,073.44. This trade represents a 0.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Chi On Ho sold 650,000 shares of AvePoint stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $15.21, for a total value of $9,886,500.00. Following the completion of the sale, the director directly owned 3,732,679 shares in the company, valued at approximately $56,774,047.59. This represents a 14.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,695,780 shares of company stock valued at $86,652,648 over the last 90 days. 26.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new stake in shares of AvePoint during the 3rd quarter worth approximately $26,000. Summit Securities Group LLC increased its holdings in AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company’s stock worth $38,000 after buying an additional 2,263 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in AvePoint by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company’s stock worth $44,000 after buying an additional 919 shares during the last quarter. Quarry LP raised its position in AvePoint by 2,028.3% during the first quarter. Quarry LP now owns 3,831 shares of the company’s stock worth $55,000 after acquiring an additional 3,651 shares in the last quarter. Finally, KBC Group NV acquired a new stake in AvePoint in the first quarter valued at $67,000. 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.