AvePoint (NASDAQ:AVPT) Given Overweight Rating at Cantor Fitzgerald

AvePoint (NASDAQ:AVPT)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $10.00 target price on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 46.63% from the stock’s previous close.

AVPT has been the topic of several other reports. Citigroup raised their price objective on AvePoint from $5.80 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, August 29th. TheStreet upgraded AvePoint from a “d+” rating to a “c-” rating in a research report on Wednesday, May 31st.

AvePoint Trading Up 1.3 %

Shares of NASDAQ AVPT traded up $0.09 during trading hours on Monday, hitting $6.82. 157,397 shares of the company traded hands, compared to its average volume of 647,408. The company’s 50 day moving average price is $6.29 and its 200 day moving average price is $5.50. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -29.57 and a beta of 0.89. AvePoint has a 12 month low of $3.40 and a 12 month high of $7.13.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.08). AvePoint had a negative net margin of 16.71% and a negative return on equity of 18.50%. The business had revenue of $64.90 million during the quarter, compared to analysts’ expectations of $61.78 million. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts anticipate that AvePoint will post -0.18 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Sixth Street Partners Manageme sold 16,666,600 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $6.00, for a total value of $99,999,600.00. Following the completion of the sale, the insider now directly owns 1,885,806 shares in the company, valued at approximately $11,314,836. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 25.72% of the company’s stock.

Institutional Trading of AvePoint

A number of institutional investors and hedge funds have recently made changes to their positions in AVPT. Vanguard Group Inc. boosted its stake in AvePoint by 227.8% during the 1st quarter. Vanguard Group Inc. now owns 10,390,928 shares of the company’s stock valued at $54,656,000 after purchasing an additional 7,220,811 shares in the last quarter. BlackRock Inc. boosted its position in shares of AvePoint by 32.6% in the second quarter. BlackRock Inc. now owns 10,382,686 shares of the company’s stock worth $59,804,000 after buying an additional 2,553,858 shares during the period. State Street Corp raised its holdings in shares of AvePoint by 243.5% during the second quarter. State Street Corp now owns 2,143,383 shares of the company’s stock worth $9,302,000 after acquiring an additional 1,519,449 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of AvePoint by 949.7% during the second quarter. JPMorgan Chase & Co. now owns 1,550,288 shares of the company’s stock worth $8,930,000 after acquiring an additional 1,402,604 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in AvePoint by 481.4% during the second quarter. Northern Trust Corp now owns 1,091,852 shares of the company’s stock valued at $4,739,000 after buying an additional 904,054 shares in the last quarter. 42.76% of the stock is currently owned by institutional investors and hedge funds.

About AvePoint

AvePoint, Inc provides cloud-native software platform solutions. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others.