AvePoint (NASDAQ:AVPT) Reaches New 52-Week High at $11.03

Shares of AvePoint, Inc. (NASDAQ:AVPT) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.03 and last traded at $10.98, with a volume of 143627 shares. The stock had previously closed at $10.87.

Wall Street Analysts Forecast Growth

Separately, Northland Securities raised their price objective on AvePoint from $12.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday, June 17th.

AvePoint Trading Up 0.5 %

The firm has a fifty day simple moving average of $9.86 and a 200-day simple moving average of $8.61.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. AvePoint had a negative return on equity of 6.56% and a negative net margin of 4.91%. The firm had revenue of $74.53 million for the quarter, compared to analyst estimates of $72.33 million. During the same quarter last year, the company posted ($0.05) earnings per share. The business’s revenue was up 25.1% on a year-over-year basis. As a group, sell-side analysts forecast that AvePoint, Inc. will post -0.05 EPS for the current year.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $10.37, for a total transaction of $207,400.00. Following the transaction, the insider now owns 1,297,373 shares of the company’s stock, valued at $13,453,758.01. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other AvePoint news, CFO James Caci sold 40,000 shares of AvePoint stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $9.04, for a total value of $361,600.00. Following the sale, the chief financial officer now owns 665,097 shares of the company’s stock, valued at approximately $6,012,476.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of AvePoint 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 disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock valued at $907,200 over the last quarter. 27.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AvePoint

A number of institutional investors have recently added to or reduced their stakes in the business. Strs Ohio boosted its holdings in 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 purchasing an additional 3,300 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of AvePoint by 12.5% during the 1st quarter. ProShare Advisors LLC now owns 33,857 shares of the company’s stock valued at $268,000 after acquiring an additional 3,749 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of AvePoint by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,782 shares of the company’s stock valued at $236,000 after acquiring an additional 4,005 shares during the period. Arizona State Retirement System lifted its position in shares of AvePoint by 16.1% during the 4th quarter. Arizona State Retirement System now owns 31,097 shares of the company’s stock valued at $255,000 after acquiring an additional 4,303 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of AvePoint by 44.2% during the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after acquiring an additional 5,125 shares during the period. Hedge funds and other 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.