AvePoint (NASDAQ:AVPT) Trading Up 7.9% – Here’s What Happened

AvePoint, Inc. (NASDAQ:AVPT)’s share price traded up 7.9% on Thursday . The company traded as high as $14.23 and last traded at $14.2550. 831,217 shares changed hands during trading, a decline of 60% from the average daily volume of 2,065,408 shares. The stock had previously closed at $13.21.

Analyst Ratings Changes

AVPT has been the topic of several recent analyst reports. Zacks Research cut AvePoint from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Evercore reiterated an “outperform” rating and issued a $16.00 price objective on shares of AvePoint in a report on Friday, August 7th. Weiss Ratings upgraded AvePoint from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. TD Cowen lifted their price objective on AvePoint from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Scotiabank boosted their target price on AvePoint from $12.00 to $15.00 and gave the company a “sector outperform” rating in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.44.

AvePoint Stock Performance

The company’s 50-day moving average price is $12.58 and its 200 day moving average price is $11.10. The stock has a market capitalization of $2.96 billion, a PE ratio of 43.75 and a beta of 1.16.

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

Insiders Place Their Bets

In other AvePoint news, insider Brian Michael Brown sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $14.20, for a total transaction of $852,000.00. Following the transaction, the insider owned 384,604 shares in the company, valued at approximately $5,461,376.80. This represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 80,000 shares of company stock worth $1,115,696. Insiders own 22.66% of the company’s stock.

Institutional Investors Weigh In On AvePoint

Several hedge funds have recently made changes to their positions in AVPT. Corient Private Wealth LP bought a new position in AvePoint in the second quarter worth $240,000. California State Teachers Retirement System boosted its holdings in shares of AvePoint by 994.0% during the 2nd quarter. California State Teachers Retirement System now owns 2,032,037 shares of the company’s stock valued at $22,779,000 after buying an additional 1,846,288 shares in the last quarter. Odyssean LLC boosted its holdings in shares of AvePoint by 106.2% during the 2nd quarter. Odyssean LLC now owns 273,488 shares of the company’s stock valued at $3,066,000 after buying an additional 140,867 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of AvePoint in the 2nd quarter worth about $184,000. Finally, Greenleaf Trust purchased a new stake in shares of AvePoint in the 2nd quarter worth about $122,000. 44.49% of the stock is currently owned by institutional investors.

AvePoint Company Profile

AvePoint, Inc (NASDAQ:AVPT) is a leading software provider specializing in data management, governance, and compliance solutions for Microsoft 365 and related cloud platforms. Founded in 2001 and headquartered in Jersey City, New Jersey, the company offers a comprehensive suite of cloud-based and on-premises tools designed to help organizations migrate, manage, and protect their collaboration data. AvePoint’s flagship Cloud Platform delivers backup, governance, reporting, and migration services for SharePoint, Teams, Exchange, OneDrive, and Salesforce environments.

With a customer base spanning thousands of organizations across more than 100 countries, AvePoint serves enterprises, government agencies, and educational institutions seeking to ensure data security, regulatory compliance, and operational resilience.