The Goldman Sachs Group Forecasts Strong Price Appreciation for AvePoint (NASDAQ:AVPT) Stock

AvePoint (NASDAQ:AVPT) had its target price hoisted by investment analysts at The Goldman Sachs Group from $7.50 to $15.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential downside of 4.40% from the stock’s current price.

Several other research analysts have also recently weighed in on AVPT. Northland Securities raised their target price on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald lifted their price objective 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

AvePoint Stock Down 0.1 %

AVPT traded down $0.01 during trading on Tuesday, reaching $15.69. The stock had a trading volume of 604,226 shares, compared to its average volume of 978,518. The stock has a 50 day moving average of $12.14 and a two-hundred day moving average of $10.64. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -313.74 and a beta of 0.88. AvePoint has a 1-year low of $7.08 and a 1-year high of $15.77.

Insider Buying and Selling at AvePoint

In other news, major shareholder Zhijian Lu sold 10,000 shares of the company’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 completion of the sale, the insider now owns 18,370,673 shares in the company, valued at approximately $227,245,225.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $12.37, for a total transaction of $123,700.00. Following the completion of the transaction, the insider now directly owns 18,370,673 shares in the company, valued at $227,245,225.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Caci sold 30,000 shares of the firm’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 completion of the sale, the chief financial officer now owns 630,084 shares in the company, valued at approximately $6,874,216.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,000 shares of company stock worth $1,724,500 over the last three months. Corporate insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE lifted its stake in shares of AvePoint by 8.0% in the third quarter. US Bancorp DE now owns 18,706 shares of the company’s stock valued at $220,000 after buying an additional 1,391 shares during the period. ProShare Advisors LLC grew its holdings in shares of AvePoint by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 33,857 shares of the company’s stock worth $268,000 after purchasing an additional 3,749 shares in the last quarter. Creative Planning increased its position in shares of AvePoint by 19.1% during the third quarter. Creative Planning now owns 29,345 shares of the company’s stock valued at $345,000 after purchasing an additional 4,698 shares during the period. SG Americas Securities LLC raised its stake in shares of AvePoint by 44.2% in the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after purchasing an additional 5,125 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in AvePoint by 14.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,464 shares of the company’s stock worth $337,000 after purchasing an additional 5,316 shares during the period. 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.