AvePoint (NASDAQ:AVPT) Hits New 52-Week High at $10.47

AvePoint, Inc. (NASDAQ:AVPT) hit a new 52-week high during trading on Monday . The stock traded as high as $10.47 and last traded at $10.47, with a volume of 1390 shares trading hands. The stock had previously closed at $10.42.

Analyst Upgrades and Downgrades

Separately, Northland Securities boosted their target price on shares of AvePoint from $12.00 to $18.00 and gave the company an “outperform” rating in a research note on Monday, June 17th.

AvePoint Stock Up 0.5 %

The firm’s 50 day moving average is $8.94 and its 200-day moving average is $8.29.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. AvePoint had a negative net margin of 4.91% and a negative return on equity of 6.56%. The company had revenue of $74.53 million during the quarter, compared to analyst estimates of $72.33 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. The firm’s revenue was up 25.1% compared to the same quarter last year. Research analysts anticipate that AvePoint, Inc. will post -0.05 earnings per share for the current year.

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 20,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $9.05, for a total transaction of $181,000.00. Following the completion of the sale, the insider now owns 1,323,930 shares of the company’s stock, valued at $11,981,566.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other AvePoint news, CFO James Caci sold 40,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $9.04, for a total value of $361,600.00. Following the transaction, the chief financial officer now owns 665,097 shares of the company’s stock, valued at $6,012,476.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Michael Brown sold 20,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were 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 disclosure for this sale can be found here. Insiders sold 80,000 shares of company stock valued at $699,800 over the last 90 days. 27.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AVPT. Harvest Fund Management Co. Ltd acquired a new stake in shares of AvePoint during the fourth quarter worth about $47,000. SG Americas Securities LLC acquired a new stake in shares of AvePoint during the fourth quarter worth about $95,000. Bayesian Capital Management LP acquired a new stake in shares of AvePoint during the first quarter worth about $130,000. Quadrature Capital Ltd acquired a new stake in shares of AvePoint during the fourth quarter worth about $148,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of AvePoint during the fourth quarter worth about $158,000. Institutional investors and hedge funds 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.