AvePoint (NASDAQ:AVPT) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of AvePoint (NASDAQ:AVPT) from a buy rating to a hold rating in a research note released on Sunday,Wall Street Zen reports.

A number of other equities research analysts have also issued reports on the company. Cantor Fitzgerald increased their target price on AvePoint from $15.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. Evercore reissued an “outperform” rating and set a $16.00 price target on shares of AvePoint in a research report on Friday, August 7th. BMO Capital Markets started coverage on AvePoint in a report on Tuesday, October 6th. They issued an “outperform” rating and a $17.00 price target for the company. Citigroup restated a “neutral” rating on shares of AvePoint in a report on Wednesday, August 12th. Finally, Phillip Securities raised shares of AvePoint to a “moderate buy” rating in a research report on Monday, October 5th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

AvePoint Trading Up 0.5%

Shares of NASDAQ AVPT opened at $16.89 on Friday. AvePoint has a 12-month low of $8.84 and a 12-month high of $17.52. The company has a market cap of $3.57 billion, a P/E ratio of 49.68 and a beta of 1.13. The stock has a fifty day moving average price of $14.66 and a 200 day moving average price of $12.05.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $131.10 million during the quarter, compared to analysts’ expectations of $129.39 million. AvePoint had a net margin of 15.67% and a return on equity of 17.26%. On average, sell-side analysts forecast that AvePoint will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In other AvePoint news, insider Brian Brown sold 72,606 shares of the company’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $15.26, for a total value of $1,107,967.56. Following the completion of the transaction, the insider directly owned 259,604 shares of the company’s stock, valued at $3,961,557.04. This represents a 21.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 230,000 shares of company stock valued at $3,430,412. Insiders own 22.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AVPT. Global Retirement Partners LLC grew its stake in AvePoint by 161.1% during the 3rd quarter. Global Retirement Partners LLC now owns 1,812 shares of the company’s stock valued at $26,000 after purchasing an additional 1,118 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in AvePoint by 933.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,977 shares of the company’s stock worth $28,000 after purchasing an additional 2,689 shares during the last quarter. GAMMA Investing LLC raised its position in shares of AvePoint by 26.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,814 shares of the company’s stock valued at $43,000 after purchasing an additional 802 shares in the last quarter. Allworth Financial LP raised its position in shares of AvePoint by 109.6% in the 2nd quarter. Allworth Financial LP now owns 5,065 shares of the company’s stock valued at $57,000 after purchasing an additional 2,649 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of AvePoint by 822.1% in the 3rd quarter. Sterling Capital Management LLC now owns 5,496 shares of the company’s stock valued at $77,000 after purchasing an additional 4,900 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

AvePoint Company Profile

AvePoint provides cloud-based software for managing, protecting and governing data in cloud collaboration environments. Its products help organizations back up and restore data, manage access and compliance policies, and migrate content between platforms. The company’s offerings support services including Microsoft 365, Salesforce and Google Workspace. AvePoint also provides tools for data governance, records management and collaboration, serving organizations across a range of industries and geographies.