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

Shares of AvePoint, Inc. (NASDAQ:AVPT) gapped up prior to trading on Friday . The stock had previously closed at $13.48, but opened at $14.26. AvePoint shares last traded at $15.50, with a volume of 629,570 shares changing hands.

Wall Street Analysts Forecast Growth

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

AvePoint Trading Up 10.5 %

The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -186.13 and a beta of 0.88. The firm has a fifty day moving average price of $12.06 and a 200 day moving average price of $10.56.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The firm had revenue of $77.96 million for the quarter, compared to analyst estimates of $75.17 million. During the same period in the prior year, the company posted ($0.07) EPS. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. As a group, equities analysts predict that AvePoint, Inc. will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $10.89, for a total transaction of $108,900.00. Following the transaction, the insider now owns 18,440,673 shares of the company’s stock, valued at approximately $200,818,928.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James Caci sold 30,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total value of $327,300.00. Following the transaction, the chief financial officer now owns 630,084 shares of the company’s stock, valued at $6,874,216.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $10.89, for a total value of $108,900.00. Following the completion of the transaction, the insider now directly owns 18,440,673 shares in the company, valued at approximately $200,818,928.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,000 shares of company stock valued at $1,724,500. 27.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AVPT. SG Americas Securities LLC lifted its stake in shares of AvePoint by 44.2% in the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after purchasing an additional 5,125 shares during the period. ProShare Advisors LLC increased its position in shares of AvePoint by 12.5% in the 1st quarter. ProShare Advisors LLC now owns 33,857 shares of the company’s stock valued at $268,000 after buying an additional 3,749 shares in the last quarter. Vanguard Group Inc. increased its position in shares of AvePoint by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock valued at $119,198,000 after buying an additional 532,371 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of AvePoint by 14.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,464 shares of the company’s stock valued at $337,000 after buying an additional 5,316 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of AvePoint in the 1st quarter valued at $130,000. 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.