AvePoint (NASDAQ:AVPT) Shares Gap Down – Should You Sell?

AvePoint, Inc. (NASDAQ:AVPT)’s share price gapped down before the market opened on Friday . The stock had previously closed at $17.08, but opened at $13.92. AvePoint shares last traded at $13.90, with a volume of 682,377 shares changing hands.

Analyst Upgrades and Downgrades

AVPT has been the subject of a number of recent research reports. Citigroup upped their price objective on shares of AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. The Goldman Sachs Group increased their price objective on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

AvePoint Price Performance

The firm has a market capitalization of $2.79 billion, a P/E ratio of -298.74 and a beta of 1.02. The business has a 50 day moving average price of $17.86 and a 200 day moving average price of $15.09.

Hedge Funds Weigh In On AvePoint

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its holdings in shares of AvePoint by 29.7% during the 4th quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock worth $73,000 after purchasing an additional 1,010 shares during the period. Summit Investment Advisors Inc. lifted its position in shares of AvePoint by 8.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,475 shares of the company’s stock worth $222,000 after acquiring an additional 1,042 shares during the period. Moran Wealth Management LLC grew its holdings in shares of AvePoint by 2.2% during the 4th quarter. Moran Wealth Management LLC now owns 49,571 shares of the company’s stock worth $818,000 after purchasing an additional 1,083 shares in the last quarter. US Bancorp DE increased its position in shares of AvePoint by 8.0% during the third quarter. US Bancorp DE now owns 18,706 shares of the company’s stock valued at $220,000 after purchasing an additional 1,391 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in shares of AvePoint in the fourth quarter valued at $25,000. Institutional investors own 44.49% of the company’s stock.

AvePoint Company Profile

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.