AvePoint (NASDAQ:AVPT) Reaches New 52-Week High – What’s Next?

AvePoint, Inc. (NASDAQ:AVPT) reached a new 52-week high on Tuesday . The stock traded as high as $12.18 and last traded at $12.18, with a volume of 132470 shares trading hands. The stock had previously closed at $11.71.

Analyst Ratings Changes

A number of analysts recently issued reports on AVPT shares. Cantor Fitzgerald increased their target price on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Northland Securities raised their target price on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, August 9th.

AvePoint Trading Up 4.3 %

The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -146.38 and a beta of 0.89. The firm has a 50-day moving average of $11.23 and a 200 day moving average of $9.81.

AvePoint (NASDAQ:AVPT) last posted its earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates 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 previous year, the firm posted ($0.07) earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, research analysts forecast that AvePoint, Inc. will post -0.07 EPS for the current year.

Insider Activity

In related news, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $10.78, for a total value of $215,600.00. Following the transaction, the insider now owns 1,277,373 shares in the company, valued at approximately $13,770,080.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Brian Michael Brown sold 20,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.78, for a total value of $215,600.00. Following the sale, the insider now directly owns 1,277,373 shares of the company’s stock, valued at $13,770,080.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $108,900.00. Following the transaction, the insider now owns 18,440,673 shares in the company, valued at $200,818,928.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 130,000 shares of company stock worth $1,450,600 over the last ninety days. Corporate insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew 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 worth $119,198,000 after acquiring an additional 532,371 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in AvePoint by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,932,248 shares of the company’s stock worth $20,133,000 after purchasing an additional 227,324 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in AvePoint in the second quarter worth $17,305,000. Federated Hermes Inc. increased its stake in AvePoint by 3.6% during the second quarter. Federated Hermes Inc. now owns 934,670 shares of the company’s stock valued at $9,739,000 after purchasing an additional 32,821 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of AvePoint by 16.4% during the second quarter. Renaissance Technologies LLC now owns 861,900 shares of the company’s stock worth $8,981,000 after purchasing an additional 121,200 shares during the period. 44.49% of the stock is owned by institutional investors.

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.