AvePoint (NASDAQ:AVPT) Hits New 1-Year High on Analyst Upgrade

AvePoint, Inc. (NASDAQ:AVPT) shares hit a new 52-week high on Tuesday after The Goldman Sachs Group raised their price target on the stock from $7.50 to $15.00. The Goldman Sachs Group currently has a neutral rating on the stock. AvePoint traded as high as $15.77 and last traded at $15.62, with a volume of 761520 shares. The stock had previously closed at $15.70.

AVPT has been the subject of several other reports. Northland Securities boosted their price objective on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald upped their price target on shares of AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, AvePoint has an average rating of “Moderate Buy” and a consensus target price of $13.20.

Insiders Place Their Bets

In related news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $12.10, for a total value of $121,000.00. Following the transaction, the insider now directly owns 18,320,673 shares in the company, valued at approximately $221,680,143.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $12.10, for a total value of $121,000.00. Following the sale, the insider now owns 18,320,673 shares of the company’s stock, valued at $221,680,143.30. 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 is available through this hyperlink. Also, CFO James Caci sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $10.91, for a total transaction of $327,300.00. Following the completion of the sale, the chief financial officer now owns 630,084 shares in the company, valued at $6,874,216.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock valued at $1,724,500 over the last ninety days. Corporate insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in shares of AvePoint during the second quarter worth $83,000. Balboa Wealth Partners acquired a new position in shares of AvePoint during the 3rd quarter worth approximately $125,000. Algert Global LLC bought a new stake in shares of AvePoint during the second quarter worth approximately $116,000. Bayesian Capital Management LP bought a new position in AvePoint during the 1st quarter worth $130,000. Finally, nVerses Capital LLC acquired a new stake in shares of AvePoint in the second quarter valued at approximately $173,000. 44.49% of the stock is owned by institutional investors.

AvePoint Stock Up 1.0 %

The stock has a 50 day moving average of $12.14 and a 200 day moving average of $10.64. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -313.74 and a beta of 0.88.

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.