AvePoint (NASDAQ:AVPT) Downgraded by Wall Street Zen to “Hold”

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

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AvePoint in a research note on Wednesday, October 8th. Dbs Bank upgraded shares of AvePoint to a “moderate buy” rating in a research note on Monday, October 6th. DA Davidson began coverage on shares of AvePoint in a research note on Monday, September 22nd. They issued a “buy” rating and a $20.00 target price on the stock. Baird R W upgraded shares of AvePoint to a “hold” rating in a research note on Monday, October 27th. Finally, B. Riley started coverage on shares of AvePoint in a research note on Tuesday, August 26th. They issued a “buy” rating and a $25.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.91.

AvePoint Stock Performance

Shares of NASDAQ AVPT opened at $14.07 on Friday. The firm’s 50 day moving average price is $15.26 and its 200-day moving average price is $16.89. The company has a market cap of $2.98 billion, a PE ratio of -281.34 and a beta of 1.41. AvePoint has a 52-week low of $12.08 and a 52-week high of $20.25.

Insider Buying and Selling at AvePoint

In other AvePoint news, CFO James Caci sold 216,000 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total transaction of $3,285,360.00. Following the completion of the sale, the chief financial officer directly owned 213,030 shares of the company’s stock, valued at approximately $3,240,186.30. This represents a 50.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Michael Brown sold 1,848 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $15.03, for a total transaction of $27,775.44. Following the sale, the insider directly owned 631,893 shares of the company’s stock, valued at approximately $9,497,351.79. This represents a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,695,780 shares of company stock valued at $86,652,648 in the last quarter. Insiders own 26.19% of the company’s stock.

Institutional Trading of AvePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVPT. Global Retirement Partners LLC purchased a new stake in AvePoint during the third quarter valued at 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 valued at $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 valued at $44,000 after buying an additional 919 shares during the last quarter. Quarry LP increased its holdings in AvePoint by 2,028.3% during the first quarter. Quarry LP now owns 3,831 shares of the company’s stock valued at $55,000 after buying an additional 3,651 shares during the last quarter. Finally, KBC Group NV purchased a new stake in AvePoint during the first quarter valued at approximately $67,000. 44.49% of the stock is owned by hedge funds and other 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.