AvePoint (NASDAQ:AVPT) Sets New 52-Week High at $10.47

AvePoint, Inc. (NASDAQ:AVPT)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $10.47 and last traded at $10.47, with a volume of 1390 shares. The stock had previously closed at $10.42.

Wall Street Analysts Forecast Growth

Separately, Northland Securities lifted their price target on shares of 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 business’s fifty day simple moving average is $8.94 and its 200-day simple moving average is $8.29.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results 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. The firm had revenue of $74.53 million for the quarter, compared to analysts’ expectations of $72.33 million. AvePoint had a negative net margin of 4.91% and a negative return on equity of 6.56%. The business’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, equities research analysts forecast that AvePoint, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 20,000 shares of the company’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 transaction, the insider now owns 1,323,930 shares of the company’s stock, valued at $11,981,566.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Brian Michael Brown sold 20,000 shares of the company’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 completion of the transaction, the insider now directly owns 1,323,930 shares in the company, valued at $11,981,566.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Caci sold 40,000 shares of the company’s 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 completion of the transaction, the chief financial officer now owns 665,097 shares of the company’s stock, valued at $6,012,476.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,000 shares of company stock valued at $699,800. 27.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new stake in AvePoint during the fourth quarter valued at about $47,000. SG Americas Securities LLC purchased a new stake in AvePoint during the fourth quarter valued at about $95,000. Bayesian Capital Management LP purchased a new stake in AvePoint during the first quarter valued at about $130,000. Quadrature Capital Ltd purchased a new stake in AvePoint during the fourth quarter valued at about $148,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in AvePoint during the fourth quarter valued at about $158,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

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.