AvePoint (NASDAQ:AVPT) Given New $18.00 Price Target at Citigroup

AvePoint (NASDAQ:AVPT) had its target price raised by Citigroup from $17.00 to $18.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, The Goldman Sachs Group increased their target price on AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, AvePoint has an average rating of “Moderate Buy” and a consensus price target of $15.00.

AvePoint Stock Down 2.0 %

Shares of AVPT stock opened at $17.21 on Friday. The stock has a 50-day moving average price of $17.39 and a 200 day moving average price of $13.46. AvePoint has a 12 month low of $7.08 and a 12 month high of $19.16. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -344.13 and a beta of 1.01.

Insider Buying and Selling at AvePoint

In other AvePoint news, CFO James Caci sold 20,215 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $346,080.80. Following the completion of the transaction, the chief financial officer now owns 591,890 shares in the company, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $12.10, for a total value of $121,000.00. Following the completion of the transaction, the insider now directly owns 18,320,673 shares of the company’s stock, valued at approximately $221,680,143.30. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,215 shares of company stock valued at $952,581. 27.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of AvePoint during the 3rd quarter valued at $48,226,000. Driehaus Capital Management LLC purchased a new stake in shares of AvePoint during the 2nd quarter valued at approximately $17,305,000. Cubist Systematic Strategies LLC lifted its position in shares of AvePoint by 2,948.0% during the second quarter. Cubist Systematic Strategies LLC now owns 550,350 shares of the company’s stock worth $5,735,000 after acquiring an additional 532,294 shares in the last quarter. Squarepoint Ops LLC boosted its stake in AvePoint by 198.2% in the 2nd quarter. Squarepoint Ops LLC now owns 519,642 shares of the company’s stock worth $5,415,000 after purchasing an additional 345,370 shares during the period. Finally, Marshall Wace LLP purchased a new position in AvePoint during the second quarter valued at approximately $2,881,000. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Company Profile

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.