AvePoint (NASDAQ:AVPT) Shares Gap Down – Here’s What Happened

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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AVPT shares. The Goldman Sachs Group boosted their target price on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Citigroup boosted their target price on AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

AvePoint Stock Performance

The firm’s 50-day simple moving average is $17.86 and its two-hundred day simple moving average is $15.09. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -298.74 and a beta of 1.02.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in shares of AvePoint in the 3rd quarter valued at $48,226,000. Arrowstreet Capital Limited Partnership boosted its holdings in AvePoint by 566.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock valued at $44,220,000 after acquiring an additional 2,276,258 shares during the last quarter. Parsifal Capital Management LP acquired a new stake in AvePoint in the fourth quarter worth about $36,419,000. Raymond James Financial Inc. bought a new stake in AvePoint during the 4th quarter worth about $18,067,000. Finally, Gotham Asset Management LLC boosted its stake in shares of AvePoint by 4,694.5% in the 4th quarter. Gotham Asset Management LLC now owns 840,963 shares of the company’s stock valued at $13,884,000 after purchasing an additional 823,423 shares during the last quarter. 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.