The Goldman Sachs Group Issues Positive Forecast for AvePoint (NASDAQ:AVPT) Stock Price

AvePoint (NASDAQ:AVPT) had its price target upped by The Goldman Sachs Group from $7.50 to $15.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

AVPT has been the topic of a number of other reports. Northland Securities boosted their price target 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 boosted their price target on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, AvePoint presently has an average rating of “Moderate Buy” and an average target price of $13.20.

AvePoint Stock Performance

NASDAQ AVPT opened at $15.73 on Tuesday. AvePoint has a one year low of $7.08 and a one year high of $16.50. The firm’s fifty day moving average is $12.48 and its two-hundred day moving average is $10.82. The firm has a market cap of $2.94 billion, a PE ratio of -314.60 and a beta of 0.88.

Insider Buying and Selling

In related news, CFO James Caci sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total transaction of $327,300.00. Following the sale, the chief financial officer now owns 630,084 shares of the company’s stock, valued at approximately $6,874,216.44. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $12.37, for a total transaction of $123,700.00. Following the sale, the insider now directly owns 18,370,673 shares in the company, valued at approximately $227,245,225.01. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 150,000 shares of company stock valued at $1,724,500. Corporate insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of AvePoint by 358.5% in the third quarter. Barclays PLC now owns 206,358 shares of the company’s stock valued at $2,428,000 after purchasing an additional 161,354 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of AvePoint in the third quarter valued at about $171,000. XTX Topco Ltd purchased a new stake in shares of AvePoint in the third quarter valued at about $180,000. National Bank of Canada FI purchased a new stake in shares of AvePoint in the third quarter valued at about $29,000. Finally, Wellington Management Group LLP purchased a new stake in shares of AvePoint in the third quarter valued at about $48,226,000. Hedge funds and other institutional investors 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.