AvePoint (NASDAQ:AVPT) Reaches New 12-Month High Following Analyst Upgrade

Shares of AvePoint, Inc. (NASDAQ:AVPT) hit a new 52-week high during trading on Tuesday after Northland Securities raised their price target on the stock from $12.00 to $18.00. Northland Securities currently has an outperform rating on the stock. AvePoint traded as high as $9.69 and last traded at $9.68, with a volume of 326644 shares. The stock had previously closed at $9.62.

A number of other analysts have also commented on the stock. Cantor Fitzgerald boosted their price objective on shares of AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Evercore ISI raised their target price on shares of AvePoint from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, March 1st.

Insiders Place Their Bets

In related news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $9.05, for a total transaction of $181,000.00. Following the completion of the transaction, the insider now owns 1,323,930 shares of the company’s stock, valued at $11,981,566.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO James Caci sold 40,000 shares of the business’s 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 transaction, the chief financial officer now owns 665,097 shares in the company, valued at approximately $6,012,476.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $9.05, for a total value of $181,000.00. Following the sale, the insider now directly owns 1,323,930 shares of the company’s stock, valued at $11,981,566.50. The disclosure for this sale can be found here. Insiders have sold 80,000 shares of company stock valued at $699,800 in the last ninety days. 27.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AvePoint

A number of large investors have recently made changes to their positions in the stock. Trexquant Investment LP bought a new position in AvePoint in the 3rd quarter worth about $402,000. Russell Investments Group Ltd. purchased a new position in AvePoint in the 4th quarter worth $3,590,000. Calamos Advisors LLC bought a new stake in shares of AvePoint in the 4th quarter valued at about $1,260,000. CenterBook Partners LP bought a new position in shares of AvePoint in the fourth quarter worth approximately $1,097,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 buying an additional 4,005 shares during the last quarter. 44.49% of the stock is owned by institutional investors.

AvePoint Price Performance

The firm’s 50 day moving average price is $8.56 and its 200 day moving average price is $8.18. The stock has a market capitalization of $1.81 billion, a P/E ratio of -121.88 and a beta of 0.87.

AvePoint (NASDAQ:AVPT) last posted its earnings results on Thursday, May 9th. The company reported ($0.01) EPS 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 period last year, the company posted ($0.05) EPS. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, equities research analysts forecast that AvePoint, Inc. will post -0.05 earnings per share for the current year.

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.