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

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

Other research analysts have also issued research reports about the company. Cantor Fitzgerald boosted their price target on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Northland Securities increased their price target on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.20.

AvePoint Price Performance

AVPT opened at $15.82 on Tuesday. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -316.34 and a beta of 0.88. The business’s 50-day moving average price is $12.40 and its two-hundred day moving average price is $10.76. AvePoint has a 1 year low of $7.08 and a 1 year high of $16.50.

Insider Buying and Selling

In other news, CFO James Caci sold 30,000 shares of the 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 sale, the chief financial officer now directly owns 630,084 shares of the company’s stock, valued at approximately $6,874,216.44. This represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $12.10, for a total value of $121,000.00. Following the completion of the transaction, the insider now directly owns 18,320,673 shares of the company’s stock, valued at approximately $221,680,143.30. This trade represents a 0.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,000 shares of company stock valued at $1,724,500. 27.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On AvePoint

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in AvePoint by 3.7% in the first quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock valued at $119,198,000 after acquiring an additional 532,371 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AvePoint by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after buying an additional 227,324 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of AvePoint during the 2nd quarter worth $17,305,000. Federated Hermes Inc. boosted 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 buying an additional 32,821 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of AvePoint by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company’s stock worth $10,565,000 after acquiring an additional 63,323 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors and hedge funds.

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.