AvePoint (NASDAQ:AVPT) Reaches New 1-Year High at $12.08

AvePoint, Inc. (NASDAQ:AVPT)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $12.08 and last traded at $11.84, with a volume of 118412 shares. The stock had previously closed at $11.94.

Wall Street Analyst Weigh In

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

AvePoint Price Performance

The stock has a 50 day moving average of $10.91 and a 200 day moving average of $9.42. The firm has a market cap of $2.16 billion, a P/E ratio of -145.75 and a beta of 0.89.

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 analysts’ consensus estimates of $0.02 by ($0.09). The firm had revenue of $77.96 million during the quarter, compared to analysts’ expectations of $75.17 million. AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. AvePoint’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) earnings per share. On average, research analysts predict that AvePoint, Inc. will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at AvePoint

In other news, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $10.37, for a total value of $207,400.00. Following the completion of the sale, the insider now directly owns 1,297,373 shares in the company, valued at approximately $13,453,758.01. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $11.91, for a total value of $119,100.00. Following the completion of the sale, the insider now owns 18,430,673 shares of the company’s stock, valued at approximately $219,509,315.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $10.37, for a total value of $207,400.00. Following the transaction, the insider now owns 1,297,373 shares in the company, valued at $13,453,758.01. The disclosure for this sale can be found here. Insiders have sold 130,000 shares of company stock worth $1,419,600 over the last ninety days. Insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

Several hedge funds and other institutional investors have recently bought and sold shares of AVPT. Driehaus Capital Management LLC bought a new position in shares of AvePoint in the second quarter worth approximately $17,305,000. Vanguard Group Inc. boosted its position in AvePoint by 3.7% during 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 during the period. Cubist Systematic Strategies LLC grew its holdings in AvePoint by 2,948.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 550,350 shares of the company’s stock worth $5,735,000 after acquiring an additional 532,294 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of AvePoint by 198.2% in the second quarter. Squarepoint Ops LLC now owns 519,642 shares of the company’s stock valued at $5,415,000 after acquiring an additional 345,370 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of AvePoint during the second quarter valued at about $2,881,000. 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.