The Goldman Sachs Group Increases AvePoint (NASDAQ:AVPT) Price Target to $17.00

AvePoint (NASDAQ:AVPT) had its price target raised by research analysts at The Goldman Sachs Group from $15.00 to $17.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 14.96% from the company’s current price.

Several other equities analysts have also recently issued reports on AVPT. Citigroup dropped their price target on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. William Blair reiterated an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Finally, Scotiabank boosted their target price on AvePoint from $19.00 to $22.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AvePoint presently has an average rating of “Moderate Buy” and an average price target of $17.40.

AvePoint Stock Performance

AvePoint stock opened at $19.99 on Monday. The company has a market capitalization of $4.03 billion, a P/E ratio of -399.72 and a beta of 1.30. AvePoint has a fifty-two week low of $8.15 and a fifty-two week high of $20.25. The stock has a 50-day simple moving average of $15.24 and a 200-day simple moving average of $16.46.

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $15.11, for a total transaction of $528,850.00. Following the sale, the insider now owns 1,312,145 shares of the company’s stock, valued at $19,826,510.95. The trade was a 2.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 26.19% of the company’s stock.

Institutional Investors Weigh In On AvePoint

Institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in AvePoint in the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new position in shares of AvePoint during the 4th quarter worth $29,000. Versant Capital Management Inc acquired a new stake in shares of AvePoint during the first quarter worth $31,000. Summit Securities Group LLC boosted its holdings in shares of AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company’s stock worth $38,000 after purchasing an additional 2,263 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of AvePoint during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

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.