The Goldman Sachs Group Increases AvePoint (NASDAQ:AVPT) Price Target to $15.00

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

AVPT has been the topic of several other reports. Northland Securities upped their price objective on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald boosted their target price on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, AvePoint presently has an average rating of “Moderate Buy” and a consensus target price of $13.20.

AvePoint Stock Performance

Shares of NASDAQ:AVPT traded down $0.01 on Tuesday, hitting $15.69. The stock had a trading volume of 604,226 shares, compared to its average volume of 978,518. The firm’s 50 day moving average price is $12.14 and its 200-day moving average price is $10.64. AvePoint has a twelve month low of $7.08 and a twelve month high of $15.77. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -313.74 and a beta of 0.88.

Insider Buying and Selling at AvePoint

In other news, CFO James Caci sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total transaction of $327,300.00. Following the transaction, the chief financial officer now directly owns 630,084 shares in the company, valued at approximately $6,874,216.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $10.89, for a total value of $108,900.00. Following the transaction, the insider now owns 18,440,673 shares in the company, valued at $200,818,928.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Caci sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total value of $327,300.00. Following the sale, the chief financial officer now directly owns 630,084 shares of the company’s stock, valued at $6,874,216.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,000 shares of company stock worth $1,724,500. 27.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AvePoint

Several institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board bought a new position in AvePoint in the second quarter valued at approximately $83,000. Algert Global LLC acquired a new stake in shares of AvePoint during the second quarter worth $116,000. Balboa Wealth Partners bought a new stake in AvePoint in the third quarter valued at about $125,000. Bayesian Capital Management LP acquired a new position in AvePoint in the first quarter valued at about $130,000. Finally, SG Americas Securities LLC boosted its holdings in AvePoint by 44.2% during the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock worth $132,000 after buying an additional 5,125 shares during the last quarter. Institutional investors and hedge funds 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.