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

AvePoint (NASDAQ:AVPT - Get Free Report) had its target price increased by stock analysts at Citigroup from $17.00 to $18.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price target suggests a potential upside of 4.99% from the company's previous close.

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

AvePoint Price Performance

Shares of AVPT traded down $0.42 during mid-day trading on Friday, hitting $17.15. The stock had a trading volume of 388,374 shares, compared to its average volume of 937,308. AvePoint has a 52 week low of $7.08 and a 52 week high of $19.16. The firm has a market cap of $3.20 billion, a P/E ratio of -343.03 and a beta of 1.01. The business has a fifty day moving average price of $17.34 and a 200-day moving average price of $13.41.

Insider Buying and Selling at AvePoint

In other news, CFO James Caci sold 20,215 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $346,080.80. Following the completion of the sale, the chief financial officer now owns 591,890 shares of the company's stock, valued at $10,133,156.80. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 21st. The stock was sold at an average price of $12.10, for a total transaction of $121,000.00. Following the sale, the insider now directly owns 18,320,673 shares of the company's stock, valued at $221,680,143.30. This represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,215 shares of company stock worth $952,581 over the last quarter. Insiders own 27.78% of the company's stock.

Institutional Investors Weigh In On AvePoint

A number of institutional investors and hedge funds have recently made changes to their positions in AVPT. SG Americas Securities LLC boosted its position in shares of AvePoint by 31.2% during the 4th quarter. SG Americas Securities LLC now owns 30,060 shares of the company's stock worth $496,000 after purchasing an additional 7,141 shares during the period. Sheets Smith Wealth Management grew its stake in shares of AvePoint by 17.0% in the fourth quarter. Sheets Smith Wealth Management now owns 43,481 shares of the company's stock valued at $718,000 after buying an additional 6,329 shares in the last quarter. Empirical Asset Management LLC acquired a new position in AvePoint during the 4th quarter worth about $264,000. Harbor Capital Advisors Inc. boosted its holdings in AvePoint by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 121,358 shares of the company's stock valued at $2,004,000 after acquiring an additional 2,112 shares during the period. Finally, JPMorgan Chase & Co. grew its position in AvePoint by 13.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company's stock valued at $18,086,000 after acquiring an additional 184,361 shares in the last quarter. 44.49% of the stock is owned by hedge funds and other institutional investors.

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.

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