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

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

Other equities research analysts also recently issued research reports about the company. Northland Securities boosted their price objective on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald raised their price objective on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.20.

AvePoint Stock Performance

NASDAQ:AVPT opened at $15.73 on Tuesday. AvePoint has a fifty-two week low of $7.08 and a fifty-two week high of $16.50. The company has a 50 day moving average price of $12.48 and a 200 day moving average price of $10.82. The stock has a market capitalization of $2.94 billion, a P/E ratio of -314.60 and a beta of 0.88.

Insiders Place Their Bets

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 shares were sold at an average price of $12.10, for a total transaction of $121,000.00. Following the completion of the transaction, the insider now owns 18,320,673 shares in the company, valued at $221,680,143.30. The trade was a 0.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James Caci sold 30,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 630,084 shares of the company’s stock, valued at $6,874,216.44. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock worth $1,724,500 in the last 90 days. Corporate insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AVPT. Vanguard Group Inc. grew its position in shares of AvePoint by 3.7% during the first quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock worth $119,198,000 after acquiring an additional 532,371 shares during the last quarter. Wellington Management Group LLP purchased a new position in AvePoint during the 3rd quarter worth $48,226,000. Dimensional Fund Advisors LP increased its stake in AvePoint by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock valued at $20,133,000 after purchasing an additional 227,324 shares during the period. Driehaus Capital Management LLC acquired a new position in AvePoint in the second quarter valued at $17,305,000. Finally, Federated Hermes Inc. increased its stake in AvePoint by 3.6% in the second quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock valued at $9,739,000 after purchasing an additional 32,821 shares during the period. 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.