Wall Street Zen upgraded shares of AvePoint (NASDAQ:AVPT – Free Report) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.
Several other research firms have also recently weighed in on AVPT. Weiss Ratings raised AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Stephens lifted their target price on AvePoint from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st. Citigroup reissued a “neutral” rating on shares of AvePoint in a report on Wednesday, August 12th. Zacks Research downgraded shares of AvePoint from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, DA Davidson restated a “buy” rating and set a $18.00 price target on shares of AvePoint in a research report on Monday, July 6th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, AvePoint presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.55.
View Our Latest Report on AVPT
AvePoint Trading Down 2.2%
Shares of NASDAQ:AVPT opened at $16.71 on Friday. The stock has a market cap of $3.54 billion, a PE ratio of 52.22 and a beta of 1.17. The stock’s fifty day simple moving average is $14.29 and its two-hundred day simple moving average is $11.93. AvePoint has a 1-year low of $8.84 and a 1-year high of $17.52.
AvePoint (NASDAQ:AVPT – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. The firm had revenue of $124.50 million during the quarter, compared to analyst estimates of $121.38 million. AvePoint had a net margin of 15.33% and a return on equity of 15.97%. On average, sell-side analysts forecast that AvePoint will post 0.25 earnings per share for the current fiscal year.
Insider Activity at AvePoint
In related news, insider Brian Brown sold 72,606 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $15.26, for a total transaction of $1,107,967.56. Following the completion of the transaction, the insider owned 259,604 shares of the company’s stock, valued at approximately $3,961,557.04. The trade was a 21.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 230,000 shares of company stock valued at $3,430,412 in the last three months. 22.66% of the stock is currently owned by company insiders.
Institutional Trading of AvePoint
Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of AvePoint by 106.7% during the 2nd quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company’s stock valued at $31,125,000 after purchasing an additional 1,433,299 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of AvePoint by 25.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock worth $31,040,000 after buying an additional 666,422 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of AvePoint by 25.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,675,587 shares of the company’s stock worth $25,445,000 after buying an additional 535,015 shares in the last quarter. Renaissance Technologies LLC boosted its stake in AvePoint by 16.4% during the first quarter. Renaissance Technologies LLC now owns 2,580,153 shares of the company’s stock valued at $24,537,000 after buying an additional 363,200 shares during the period. Finally, Bank of America Corp DE boosted its stake in AvePoint by 185.8% during the first quarter. Bank of America Corp DE now owns 1,253,662 shares of the company’s stock valued at $11,922,000 after buying an additional 815,074 shares during the period. 44.49% of the stock is currently owned by hedge funds and other institutional investors.
About AvePoint
AvePoint, Inc (NASDAQ:AVPT) is a data management and governance software company that helps organizations protect, manage and modernize information across cloud, hybrid and on-premises environments. Its solutions are designed primarily for collaboration and productivity platforms, including Microsoft 365, SharePoint, Dynamics 365 and Salesforce.
The company’s product portfolio includes cloud backup and recovery, data migration, governance, security, compliance and administration tools.
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