AvePoint (NASDAQ:AVPT) Sets New 52-Week High After Analyst Upgrade

AvePoint, Inc. (NASDAQ:AVPT) hit a new 52-week high during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $7.50 to $15.00. The Goldman Sachs Group currently has a neutral rating on the stock. AvePoint traded as high as $15.77 and last traded at $15.62, with a volume of 761520 shares trading hands. The stock had previously closed at $15.70.

A number of other research analysts have also recently commented on the company. Cantor Fitzgerald upped their price target on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Northland Securities increased their price objective on AvePoint from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.20.

Insider Buying and Selling

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $10.89, for a total value of $108,900.00. Following the sale, the insider now owns 18,440,673 shares of the company’s stock, valued at $200,818,928.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO James Caci sold 30,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $10.91, for a total transaction of $327,300.00. Following the transaction, the chief financial officer now directly owns 630,084 shares in the company, valued at approximately $6,874,216.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $10.89, for a total value of $108,900.00. Following the transaction, the insider now owns 18,440,673 shares in the company, valued at $200,818,928.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,000 shares of company stock valued at $1,724,500. Corporate insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in shares of AvePoint during the 2nd quarter valued at about $83,000. Algert Global LLC bought a new position in shares of AvePoint during the 2nd quarter valued at about $116,000. Balboa Wealth Partners bought a new position in shares of AvePoint during the 3rd quarter valued at about $125,000. Bayesian Capital Management LP bought a new position in shares of AvePoint during the 1st quarter valued at about $130,000. Finally, SG Americas Securities LLC increased 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 purchasing an additional 5,125 shares during the last quarter. 44.49% of the stock is currently owned by institutional investors.

AvePoint Stock Performance

The firm has a 50-day moving average of $12.31 and a 200-day moving average of $10.73. The firm has a market capitalization of $2.99 billion, a P/E ratio of -320.54 and a beta of 0.88.

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.