AvePoint (NASDAQ:AVPT) Sets New 52-Week High at $10.07

AvePoint, Inc. (NASDAQ:AVPT) shares reached a new 52-week high on Monday . The company traded as high as $10.07 and last traded at $10.07, with a volume of 2106 shares trading hands. The stock had previously closed at $10.05.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVPT. Evercore ISI lifted their price target on AvePoint from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Cantor Fitzgerald lifted their price target on AvePoint from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, Northland Securities boosted their target price on AvePoint from $12.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday, June 17th.

AvePoint Price Performance

The stock has a market cap of $1.87 billion, a P/E ratio of -125.88 and a beta of 0.87. The company has a fifty day moving average of $8.68 and a 200 day moving average of $8.22.

AvePoint (NASDAQ:AVPT) last announced 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 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 analysts’ expectations of $72.33 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. As a group, analysts anticipate 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 that occurred 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 transaction, the insider now owns 1,323,930 shares in the company, valued at $11,981,566.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction that occurred 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 transaction, the insider now directly owns 1,323,930 shares in the company, valued at approximately $11,981,566.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $361,600.00. Following the transaction, the chief financial officer now owns 665,097 shares in the company, valued at $6,012,476.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,000 shares of company stock worth $699,800. 27.78% of the stock is owned by insiders.

Hedge Funds Weigh In On AvePoint

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake 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 valued at $119,198,000 after purchasing an additional 532,371 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of AvePoint by 2.2% in the 4th quarter. Federated Hermes Inc. now owns 878,765 shares of the company’s stock valued at $7,215,000 after purchasing an additional 18,881 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of AvePoint by 6.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 868,806 shares of the company’s stock valued at $5,838,000 after purchasing an additional 52,750 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of AvePoint in the 4th quarter valued at $3,590,000. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of AvePoint in the 1st quarter valued at $1,844,000. 44.49% of the stock is currently owned by hedge funds and other 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.