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 report report published on Saturday,Wall Street Zen reports.

A number of other equities analysts have also issued reports on the stock. Stephens increased their target price on shares of AvePoint from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. TD Cowen boosted their price target on shares of AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Cantor Fitzgerald restated an “overweight” rating on shares of AvePoint in a research report on Tuesday, September 22nd. Evercore reaffirmed an “outperform” rating and issued a $16.00 price target on shares of AvePoint in a research note on Friday, August 7th. Finally, Phillip Securities upgraded shares of AvePoint to a “moderate buy” rating in a report on Monday, October 5th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, AvePoint presently has an average rating of “Moderate Buy” and a consensus target price of $16.41.

AvePoint Stock Down 0.4%

Shares of AVPT stock opened at $14.57 on Friday. The company has a market cap of $3.08 billion, a P/E ratio of 45.53 and a beta of 1.17. The business has a 50 day moving average of $13.51 and a two-hundred day moving average of $11.78. AvePoint has a 52 week low of $8.84 and a 52 week high of $15.43.

AvePoint (NASDAQ:AVPT) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $124.50 million for the quarter, compared to analysts’ expectations of $121.38 million. AvePoint had a return on equity of 15.97% and a net margin of 15.33%. Analysts expect that AvePoint will post 0.25 EPS for the current fiscal year.

Insider Activity at AvePoint

In other AvePoint news, insider Brian Brown sold 60,000 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $14.20, for a total transaction of $852,000.00. Following the transaction, the insider directly owned 384,604 shares of the company’s stock, valued at $5,461,376.80. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 128,894 shares of company stock worth $1,825,241. Corporate insiders own 22.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVPT. Wellington Management Group LLP raised its holdings in shares of AvePoint by 106.7% in the second quarter. Wellington Management Group LLP now owns 2,776,579 shares of the company’s stock valued at $31,125,000 after buying an additional 1,433,299 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AvePoint by 25.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,264,082 shares of the company’s stock worth $31,040,000 after buying an additional 666,422 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in AvePoint by 620.9% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,140,572 shares of the company’s stock worth $29,733,000 after acquiring an additional 1,843,641 shares during the last quarter. Renaissance Technologies LLC grew its holdings in AvePoint by 16.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,580,153 shares of the company’s stock worth $24,537,000 after acquiring an additional 363,200 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of AvePoint by 335.2% during the first quarter. SG Americas Securities LLC now owns 2,391,696 shares of the company’s stock valued at $22,745,000 after purchasing an additional 1,842,124 shares during the last quarter. Institutional investors own 44.49% of the company’s stock.

About AvePoint

AvePoint, Inc (NASDAQ: AVPT) provides data-management, governance and protection solutions for organizations using cloud collaboration platforms. Its products are designed to help businesses migrate, manage, protect and optimize data across services such as Microsoft 365, SharePoint, Dynamics 365 and Salesforce.

The company’s offerings include cloud backup and recovery, data migration, records and information management, compliance, security and workspace governance. AvePoint delivers these capabilities through its cloud-based platform and related software, helping organizations manage data throughout its lifecycle while supporting collaboration and regulatory requirements.

Founded in 2001, AvePoint serves customers globally across a range of industries, including public-sector organizations, education, healthcare and commercial enterprises.