AvePoint (NASDAQ:AVPT) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

AvePoint (NASDAQ:AVPT) had its target price upped by The Goldman Sachs Group from $7.50 to $15.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 6.43% from the stock’s current price.

Several other equities research analysts have also issued reports on AVPT. Northland Securities increased their target price on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald raised their price objective on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.20.

AvePoint Price Performance

AVPT opened at $16.03 on Tuesday. The firm has a fifty day moving average price of $12.31 and a 200 day moving average price of $10.73. AvePoint has a 1 year low of $7.08 and a 1 year high of $16.50. The stock has a market cap of $2.99 billion, a P/E ratio of -320.54 and a beta of 0.88.

Insider Buying and Selling

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $12.10, for a total transaction of $121,000.00. Following the completion of the sale, the insider now directly owns 18,320,673 shares in the company, valued at approximately $221,680,143.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $12.10, for a total value of $121,000.00. Following the transaction, the insider now owns 18,320,673 shares in the company, valued at approximately $221,680,143.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO James Caci sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total transaction of $327,300.00. Following the sale, the chief financial officer now directly owns 630,084 shares of the company’s stock, valued at $6,874,216.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock worth $1,724,500 in the last 90 days. Insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

Hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board purchased a new stake in shares of AvePoint in the second quarter valued at approximately $83,000. Algert Global LLC purchased a new stake in AvePoint in the 2nd quarter valued at $116,000. Balboa Wealth Partners acquired a new stake in shares of AvePoint in the 3rd quarter worth $125,000. Bayesian Capital Management LP purchased a new position in shares of AvePoint during the 1st quarter worth $130,000. Finally, SG Americas Securities LLC boosted its position in shares of AvePoint by 44.2% during the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after acquiring an additional 5,125 shares during the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

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.