AvePoint, Inc. (NASDAQ:AVPT) Given Consensus Rating of “Moderate Buy” by Brokerages

AvePoint, Inc. (NASDAQ:AVPT) has been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.03.

A number of brokerages have weighed in on AVPT. Morgan Stanley set a $18.30 price target on AvePoint in a research report on Monday, October 20th. 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. Wall Street Zen raised shares of AvePoint from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Evercore ISI cut their price target on shares of AvePoint from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Finally, Scotiabank reduced their price target on shares of AvePoint from $22.00 to $17.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 7th.

Insiders Place Their Bets

In other AvePoint news, CEO Tianyi Jiang sold 2,068,966 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $15.21, for a total value of $31,468,972.86. Following the transaction, the chief executive officer owned 13,841,853 shares of the company’s stock, valued at approximately $210,534,584.13. The trade was a 13.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Xunkai Gong sold 2,068,966 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $15.21, for a total value of $31,468,972.86. Following the completion of the sale, the chairman owned 15,220,668 shares of the company’s stock, valued at approximately $231,506,360.28. This trade represents a 11.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,720,780 shares of company stock worth $86,945,866 over the last ninety days. 26.19% of the stock is owned by insiders.

Institutional Investors Weigh In On AvePoint

A number of hedge funds have recently added to or reduced their stakes in AVPT. Invesco Ltd. increased its holdings in shares of AvePoint by 218.0% in the second quarter. Invesco Ltd. now owns 5,335,882 shares of the company’s stock valued at $103,036,000 after purchasing an additional 3,657,692 shares in the last quarter. Parsifal Capital Management LP boosted its position in AvePoint by 61.2% in the 3rd quarter. Parsifal Capital Management LP now owns 8,522,740 shares of the company’s stock valued at $127,926,000 after buying an additional 3,235,384 shares during the last quarter. Prudential PLC bought a new position in AvePoint in the 3rd quarter valued at $26,824,000. Millennium Management LLC increased its stake in shares of AvePoint by 583.4% in the 3rd quarter. Millennium Management LLC now owns 1,394,604 shares of the company’s stock valued at $20,959,000 after buying an additional 1,190,541 shares during the period. Finally, Nuveen LLC bought a new stake in shares of AvePoint during the first quarter worth $14,907,000. Institutional investors own 44.49% of the company’s stock.

AvePoint Trading Up 2.3%

Shares of AvePoint stock opened at $13.71 on Friday. The firm’s 50-day simple moving average is $13.68 and its 200-day simple moving average is $15.95. AvePoint has a twelve month low of $11.49 and a twelve month high of $20.25.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $109.73 million for the quarter, compared to the consensus estimate of $105.72 million. AvePoint had a return on equity of 0.66% and a net margin of 0.55%. On average, equities analysts forecast that AvePoint will post -0.03 earnings per share for the current fiscal year.

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.