AvePoint (NASDAQ:AVPT) Hits New 52-Week High at $10.74

AvePoint, Inc. (NASDAQ:AVPT)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $10.74 and last traded at $10.73, with a volume of 540314 shares changing hands. The stock had previously closed at $10.57.

Analyst Ratings Changes

Separately, Northland Securities lifted 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 Performance

The firm’s 50-day moving average is $9.63 and its two-hundred day moving average is $8.51. The stock has a market cap of $1.98 billion, a P/E ratio of -133.63 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) earnings per share 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 firm had revenue of $74.53 million during the quarter, compared to analysts’ expectations of $72.33 million. During the same quarter in the previous year, the company posted ($0.05) EPS. AvePoint’s revenue was up 25.1% on a year-over-year basis. As a group, research analysts forecast that AvePoint, Inc. will post -0.05 EPS for the current year.

Insiders Place Their Bets

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction on Monday, July 1st. The shares were sold at an average price of $10.37, for a total transaction of $207,400.00. Following the completion of the sale, the insider now owns 1,297,373 shares of the company’s stock, valued at approximately $13,453,758.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction on Monday, July 1st. The shares were sold at an average price of $10.37, for a total transaction of $207,400.00. Following the completion of the sale, the insider now owns 1,297,373 shares of the company’s stock, valued at approximately $13,453,758.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Caci sold 40,000 shares of AvePoint stock in a transaction on Monday, May 20th. The stock was sold at an average price of $9.04, for a total transaction of $361,600.00. Following the sale, the chief financial officer now directly owns 665,097 shares of the company’s stock, valued at approximately $6,012,476.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,000 shares of company stock valued at $907,200. Company insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strs Ohio grew its holdings in shares of AvePoint by 3.9% in the 4th quarter. Strs Ohio now owns 88,400 shares of the company’s stock valued at $725,000 after buying an additional 3,300 shares during the period. ProShare Advisors LLC grew its holdings 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of AvePoint by 16.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,782 shares of the company’s stock valued at $236,000 after buying an additional 4,005 shares during the period. Arizona State Retirement System grew its holdings in shares of AvePoint by 16.1% in the 4th quarter. Arizona State Retirement System now owns 31,097 shares of the company’s stock valued at $255,000 after buying an additional 4,303 shares during the period. Finally, SG Americas Securities LLC grew its holdings 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 buying an additional 5,125 shares during the period. 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.