AvePoint (NASDAQ:AVPT) Hits New 1-Year High at $11.50

AvePoint, Inc. (NASDAQ:AVPT) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.50 and last traded at $11.50, with a volume of 14170 shares trading hands. The stock had previously closed at $10.77.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVPT. Cantor Fitzgerald raised their target price on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Northland Securities raised their price objective on shares of AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th.

AvePoint Trading Up 9.1 %

The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -148.00 and a beta of 0.89. The stock has a 50-day simple moving average of $10.46 and a 200-day simple moving average of $9.03.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). The company had revenue of $77.96 million for the quarter, compared to the consensus estimate of $75.17 million. AvePoint had a negative return on equity of 6.56% and a negative net margin of 4.91%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. On average, research analysts forecast that AvePoint, Inc. will post -0.05 EPS for the current year.

Insiders Place Their Bets

In related news, insider Brian Michael Brown sold 20,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $9.05, for a total transaction of $181,000.00. Following the completion of the transaction, the insider now directly owns 1,323,930 shares in the company, valued at approximately $11,981,566.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $10.80, for a total transaction of $108,000.00. Following the sale, the insider now owns 18,410,673 shares of the company’s stock, valued at $198,835,268.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $9.05, for a total value of $181,000.00. Following the transaction, the insider now owns 1,323,930 shares of the company’s stock, valued at $11,981,566.50. The disclosure for this sale can be found here. Insiders have sold 130,000 shares of company stock valued at $1,364,200 over the last quarter. Insiders own 27.78% of the company’s stock.

Institutional Investors Weigh In On AvePoint

Several institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new position in shares of AvePoint during the 2nd quarter valued at $83,000. Algert Global LLC acquired a new position in AvePoint during the second quarter worth about $116,000. Bayesian Capital Management LP bought a new stake in AvePoint in the first quarter worth about $130,000. SG Americas Securities LLC raised its position in AvePoint by 44.2% in the first quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock worth $132,000 after acquiring an additional 5,125 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of AvePoint in the 4th quarter worth approximately $148,000. Institutional investors and hedge funds 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.