AvePoint (NASDAQ:AVPT) Price Target Raised to $18.00 at Citigroup

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

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

AvePoint Stock Down 2.0 %

NASDAQ:AVPT opened at $17.21 on Friday. The business’s 50-day moving average price is $17.39 and its two-hundred day moving average price is $13.51. AvePoint has a twelve month low of $7.08 and a twelve month high of $19.16. The stock has a market cap of $3.21 billion, a P/E ratio of -344.13 and a beta of 1.01.

Insider Buying and Selling

In other news, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $346,080.80. Following the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $15.77, for a total value of $157,700.00. Following the completion of the sale, the insider now owns 18,310,673 shares in the company, valued at approximately $288,759,313.21. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,215 shares of company stock worth $831,581 in the last ninety days. 27.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of AvePoint by 33.7% in the 2nd quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock valued at $6,688,000 after purchasing an additional 161,759 shares during the period. Harbor Capital Advisors Inc. purchased a new position in AvePoint during the third quarter valued at $1,404,000. Susquehanna Fundamental Investments LLC purchased a new position in AvePoint during the second quarter valued at $548,000. Quantbot Technologies LP raised its stake in AvePoint by 142.8% during the third quarter. Quantbot Technologies LP now owns 153,747 shares of the company’s stock valued at $1,810,000 after buying an additional 90,413 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in AvePoint during the third quarter valued at $1,424,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

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.