AvePoint (NASDAQ:AVPT) Price Target Raised to $22.00

AvePoint (NASDAQ:AVPTGet Free Report) had its target price raised by equities researchers at Scotiabank from $19.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 16.71% from the company’s previous close.

AVPT has been the subject of a number of other research reports. Citigroup lowered their price target on AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. William Blair restated an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

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AvePoint Stock Up 8.3 %

Shares of AvePoint stock opened at $18.85 on Friday. The company’s fifty day simple moving average is $15.06 and its two-hundred day simple moving average is $16.36. AvePoint has a 12-month low of $8.15 and a 12-month high of $19.90. The firm has a market cap of $3.80 billion, a PE ratio of -376.92 and a beta of 1.30.

Insider Activity

In other AvePoint news, insider Brian Michael Brown sold 35,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $15.40, for a total value of $539,000.00. Following the completion of the transaction, the insider now owns 1,347,145 shares in the company, valued at approximately $20,746,033. This represents a 2.53 % 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 link. 26.19% of the stock is currently owned by company insiders.

Institutional Trading of AvePoint

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC lifted its position in AvePoint by 358.5% during the 3rd quarter. Barclays PLC now owns 206,358 shares of the company’s stock valued at $2,428,000 after acquiring an additional 161,354 shares during the period. Franklin Resources Inc. lifted its holdings in shares of AvePoint by 2.3% during the third quarter. Franklin Resources Inc. now owns 1,200,589 shares of the company’s stock valued at $14,815,000 after purchasing an additional 27,191 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of AvePoint by 13.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company’s stock worth $18,086,000 after purchasing an additional 184,361 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of AvePoint by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 121,358 shares of the company’s stock worth $2,004,000 after buying an additional 2,112 shares during the last quarter. Finally, Empirical Asset Management LLC bought a new position in AvePoint during the 4th quarter valued at approximately $264,000. 44.49% of the stock is owned by hedge funds and other institutional investors.

AvePoint Company Profile

(Get Free Report)

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.

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